270 N Madison Ave, Richmond, KY 40475
Waiting List Forecast: Likely Long or Closed
Verified for 2019 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. 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.
Since Madison Avenue Apartments participates in the Section 8 Project-Based Rental Assistance program, your rent would be subsidized. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. Since this property participates in the Section 8 Project Based Rental Assistance program and has a property based subsidy, if you have a Section 8 voucher, you would have to give up your voucher to move in.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $16,050 / year | $19,720 / year | $24,860 / year | $30,000 / year | $35,140 / year | $40,280 / year | $45,420 / year | $50,450 / year |
| 50% AMI for LIHTC Units | $26,750 / year | $30,600 / year | $34,400 / year | $38,200 / year | $41,300 / year | $44,350 / year | $47,400 / year | $50,450 / year |
| 50% AMI for PBRA Units | $26,750 / year | $30,600 / year | $34,400 / year | $38,200 / year | $41,300 / year | $44,350 / year | $47,400 / year | $50,450 / year |
| 80% AMI for PBRA Units | $42,800 / year | $48,900 / year | $55,000 / year | $61,100 / year | $66,000 / year | $70,900 / year | $75,800 / year | $80,700 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Madison Avenue Apartments have a waiting list?
Madison Avenue Apartments probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Madison Avenue Apartments?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
In addition to Madison Avenue Apartments, how many other affordable housing properties (and units) are there in Richmond?
In addition to Madison Avenue Apartments, we list 11 other affordable properties in Richmond. Learn about these properties here. Our data research shows that there are a total of 979 affordable units in Richmond.
Applying for housing with bad credit.
Some housing assistance programs require a credit check, including Low-Income Housing Tax Credit apartments. Having bad credit may make you ineligible.Margaret L. Bost says:
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