Wonderwood II Apartments

1020 N Chestnut St, Monterey, Tennessee 38574

Wonderwood II Apartments Details

  • 48 bedroom units.
  • Section 515 Rural Rental Housing
  • Section 521 USDA Rental Assistance

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.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Monterey 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 Monterey but actual income limits may differ for units at Wonderwood II Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,880 $17,420 $21,960 $26,500 $31,040 $34,400 $36,800 $39,150
50% $20,800 $23,750 $26,700 $29,650 $32,050 $34,400 $36,800 $39,150
80% $33,250 $38,000 $42,750 $47,450 $51,250 $55,050 $58,850 $62,650

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