Eligibility for Monarch Woods
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Richmond but actual income limits may differ for units at Monarch Woods.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% | $22,400 | $25,600 | $28,800 | $32,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% | $37,350 | $42,650 | $48,000 | $53,300 | $57,600 | $61,850 | $66,100 | $70,400 |
| 80% | $59,750 | $68,250 | $76,800 | $85,300 | $92,150 | $98,950 | $105,800 | $112,600 |
Monarch Woods Details
- 71 bedroom units.
- Section 202 Supportive Housing for the Elderly
Section 202 Supportive Housing for the Elderly
Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.
Nearby Low Income Apartment Communities like Monarch Woods
Highland Park Senior Apartments
The Townes at River South I & II
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.