Greenwood Village

1027 Cosby Avenue, Cambridge, Maryland 21613

Greenwood Village, located at 1027 Cosby Avenue in Cambridge, has three bedroom townhouse style apartments. Greenwood Village participates in the Section 8 Project-Based Rental Assistance, Low-Income Housing Tax Credit (LIHTC) and Section 515 Rural Rental Housing programs.

Contact Greenwood Village

Message Greenwood Village

Units

Unit (Bd/Ba) Ft2 Rent
Three Bedroom (3/1) - Call for Price

Greenwood Village Details

  • 20 three bedroom units.
  • Townhouse
  • Project-Based Rental Assistance

Property Amenities

  • Rural Area

Unit Amenities

  • Air Conditioning
  • Washer/Dryer Hookup
  • Cable/Satellite TV
  • Window Coverings
  • Carpet
  • Yard
  • Private Entrance

Nearby Amenities

  • Close to Dining
  • Close to Downtown District
  • Close to Public Transportation
  • Close to Shopping
  • Near Hospital
  • Near Library
  • Near Schools

About Greenwood Village

Apartment living community in town. In walking distance to shopping, restaurants and school.

Please note: We are accepting applications, but due to a rehabilitation project, applicants will not be able to move in until approximately one year.

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Cambridge HUD Rental Assistance Income Qualifications

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 Cambridge but actual income limits may differ for units at Greenwood Village.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,350 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% $23,950 $27,400 $30,800 $34,200 $36,950 $39,700 $42,450 $45,150
80% $38,300 $43,800 $49,250 $54,700 $59,100 $63,500 $67,850 $72,250

Cambridge Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Cambridge but actual income limits may differ for units at Greenwood Village.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $23,950 $27,400 $30,800 $34,200 $36,950 $39,700 $42,450 $45,150
Low Income (60%) $28,740 $32,880 $36,960 $41,040 $44,340 $47,640 $50,940 $54,180

These general income qualifications for Cambridge, Maryland should only be used as a basic guide. To find out if you qualify, contact the community directly.

Greenwood Village was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Greenwood Village has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Greenwood Village is managed by TM Associates Management, Inc.

Image of Greenwood Village
Image of Greenwood Village