Prospect Street Housing

3 Prospect St, Montpelier, Vermont 05602

Prospect Street Housing Details

  • 29 units.
  • Project-Based 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.

Montpelier 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 Montpelier but actual income limits may differ for units at Prospect Street Housing.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $16,550 $18,900 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% $27,550 $31,500 $35,450 $39,350 $42,500 $45,650 $48,800 $51,950
80% $44,100 $50,400 $56,700 $62,950 $68,000 $73,050 $78,100 $83,100

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

You can usually make up to 80% of the Area Median Income (AMI) to be eligible for a HUD-Assisted Housing unit, but income qualification tiers for this community may be different due to various policies.

Prospect Street Housing receives rental subsidies through HUD-Assisted Housing for some or all of its apartments. Some units may be designated as market rate housing. Market rate units would have no subsidies or income restrictions.

Prospect Street Housing is managed by Montpelier Housing Authority.

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