Chestnut Mainstay II

1411 6th St, Madison, IL 62060

Waiting List Forecast: Likely Short or None

check_circleVerified for 2019 by Colleen Carter, Ric Gresia

Rent	Beds	Baths	SqFt
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Waitlist Forecast

Since this property is a HOME program property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Dave's Thoughts On Chestnut Mainstay II

Because Chestnut Mainstay II participates in HUD's HOME program for rental housing, at least some of the units in this property are set aside for persons at or below 60% of the AMI and rents are capped at the local FMR and in many cases much lower. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME program. Since this property participates in the HOME program, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Chestnut Mainstay II

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
30% AMI for PBRA Units	$21,150 / year	$24,150 / year	$27,150 / year	$30,150 / year	$35,140 / year	$40,280 / year	$45,420 / year	$50,560 / year
50% AMI for LIHTC Units	$35,200 / year	$40,200 / year	$45,250 / year	$50,250 / year	$54,300 / year	$58,300 / year	$62,350 / year	$66,350 / year
50% AMI for PBRA Units	$35,200 / year	$40,200 / year	$45,250 / year	$50,250 / year	$54,300 / year	$58,300 / year	$62,350 / year	$66,350 / year
80% AMI for PBRA Units	$56,250 / year	$64,300 / year	$72,350 / year	$80,350 / year	$86,800 / year	$93,250 / year	$99,650 / year	$106,100 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Chestnut Mainstay II

Does Chestnut Mainstay II have a waiting list?

Chestnut Mainstay II probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Chestnut Mainstay II?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

In addition to Chestnut Mainstay II, how many other affordable housing properties (and units) are there in Madison?

In addition to Chestnut Mainstay II, we list 13 other affordable properties in Madison. Learn about these properties here. Our data research shows that there are a total of 215 affordable units in Madison.