Prospect Homes

746 Prospect Ave, Charlottesville, Virginia 22980

Prospect Homes, located at 746 Prospect Ave in Charlottesville, has three bedroom apartments. Prospect Homes participates in the Section 202 Supportive Housing for the Elderly program.

Contact Prospect Homes

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

Prospect Homes Details

  • 3 three bedroom units.
  • Project-Based Rental Assistance
  • Senior (62+)
  • Accessible Units
  • Supportive Housing for the Elderly

Property Amenities

  • Computer Lab
  • Community Room
  • Library
  • Laundry Facilities

About Prospect Homes

The community is centrally located to downtown, the University of Virginia, and the local bus line.

The entire community underwent extensive interior and exterior renovations that improved the overall property to make it a more desirable place to live.

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

Charlottesville 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 Charlottesville but actual income limits may differ for units at Prospect Homes.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $18,800 $21,450 $24,150 $26,800 $30,170 $34,590 $39,010 $43,430
50% $31,300 $35,800 $40,250 $44,700 $48,300 $51,900 $55,450 $59,050
80% $50,050 $57,200 $64,350 $71,500 $77,250 $82,950 $88,700 $94,400

These general income qualifications for Charlottesville, Virginia 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 Homes 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 Homes is managed by Community Housing Partners.

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