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Message Madras Estates Apartments

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 1Br./1Ba. 642 Call for Price Message

About Madras Estates Apartments

Madras Estates is an affordable senior and diasabled housing community located in beautiful Madras Oregon, which offers a convenient location as well as a facility that was designed with senior and disabled needs and desires in mind.


Madras Estates Apartments is a 24 unit affordable housing community in Madras, Oregon. The community is located in the 2nd Congressional District of Oregon.

Property Amenities

  • Controlled Access
  • Elevator
  • Community Room
  • Rural Area

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Window Coverings
  • Carpet
  • Refrigerator

Nearby Amenities

  • Close to Dining
  • Close to Public Transportation
  • Close to Shopping
  • Near Library
  • Near Park
  • Near Schools

Low Income Housing Tax Credit

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the area. Households earning less than 60% of the area median income qualify for units with reduced rent. Some rental units in this property may not be subject to LIHTC and therefore may be set at levels higher than the area's LIHTC limits.

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.

Accepts Housing Choice Vouchers

Madras Low Income Housing Tax Credit Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% $18,700 $21,350 $24,000 $26,650 $28,800 $30,950 $33,050 $35,200
60% $22,440 $25,620 $28,800 $31,980 $34,560 $37,140 $39,660 $42,240

Madras Estates Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.

Figuring out income and rent limits for affordable housing can be complex 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.

Managed By Guardian Real Estate Services
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Call (866)-933-2293 ext. 1347#

Message Madras Estates Apartments