Affordable Housing In Chesapeake
Virginia

50 Low Income Apartment Communities In Chesapeake

Maplewood

3824 Maplefield Dr
Chesapeake, VA
$855-1,018
2-3 BR
HCV Welcome

Canterbury Apartments

531 E Cedar Rd
Chesapeake, VA
Income Based
1-2 BR
HCV Welcome

Hunters Point Apartments I

4200 Reid St
Chesapeake, VA
Call For Rent
1-3 BR
Subsidized

Canterbury Crossing Apartments

531 Cedar Rd STE 7
Chesapeake, VA
Income Based
2-3 BR

Catalina Crossing Apartments

2000 Randolph Arch
Chesapeake, VA
Call For Rent
1-3 BR
HCV Welcome

Westbridge Commons Apartments

517 Cedar Rd
Chesapeake, VA
Call For Rent
1-2 BR
HCV Welcome

Kemet House Apartments

2139 Broadmoor Ave
Chesapeake, VA
Call For Rent
1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Thrive Apartments

1020 Thrive Place, #101
Chesapeake, VA
$904-1,063
2-3 BR
HCV Welcome

Forest Cove Apartments II

2218 Farmer Ln
Chesapeake, VA
Call For Rent
1-3 BR
HCV Welcome
Subsidized

Cypress Landing

Knell's Ridge Pkwy
Chesapeake, VA
Accessible
HCV Welcome
Supportive Housing
Veterans Welcome

Housing Authorities that serve Chesapeake

Housing Authority Programs
Chesapeake Redevelopment and Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Chesapeake, Virginia

According to federal housing data and AffordableHousingOnline.com research, there are 50 low income housing apartment communities offering 4,943 affordable apartments for rent in Chesapeake, Virginia. Chesapeake features 1,687 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 3,256 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Chesapeake.

Chesapeake, VA Affordable Housing Snapshot

Total Affordable Apartment Properties 50
Total Low Income Apartments 4,943
Total Housing Units with Rental Assistance 1,687
Percentage of Housing Units Occupied By Renters 29.62%
Average Renter Household Size 2.63
Average Household Size 2.75
Median Household Income $68,620 ±$1,695
Median Rent $1,176 ±$20
Percentage Of Renters Overburdened 50.36% ± 2.93pp
Total Population 230,601

Population and Household Demographics

Chesapeake is a City in Virginia with a population of 230,601. There are 81,518 households in the city with an average household size of 2.75 persons. 29.62% of households in Chesapeake are renters.

Income and Rent Overburden in Chesapeake

The median gross income for households in Chesapeake is $68,620 a year, or $5,718 a month. The median rent for the city is $1,176 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Chesapeake, a household making less than $3,920 a month would be considered overburdened when renting an apartment at or above the median rent. 50.36% of households who rent are overburdened in Chesapeake.1

Area Median Income In Chesapeake

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

In Chesapeake, HUD calculates the Area Median Income for a family of four as $79,300

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Chesapeake

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Chesapeake HUD Rental Assistance in Chesapeake

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,700 $19,050 $21,450 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $27,800 $31,750 $35,700 $39,650 $42,850 $46,000 $49,200 $52,350
80% of Median $44,450 $50,800 $57,150 $63,450 $68,550 $73,650 $78,700 $83,800
Low Income Housing Tax Credits in Chesapeake

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1989 to 2012, 25 low income apartment communities containing 3,776 rental apartments have been constructed and made affordable to low income persons in Chesapeake by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Chesapeake

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $27,800 $31,750 $35,700 $39,650 $42,850 $46,000 $49,200 $52,350
60% of Median $33,360 $38,100 $42,840 $47,580 $51,420 $55,200 $59,040 $62,820

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Chesapeake is $42,840 a year, or $3,570 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,570 by 30% to get a maximum rent of $1,071 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $695 $744 $893 $1,031 $1,150 $1,269
60% $834 $893 $1,071 $1,238 $1,380 $1,523
Fair Market Rents in Chesapeake

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$952 $958 $1,136 $1,603 $1,994