7101 Bensley Commons Lane, Richmond, VA 23237
Waiting List Forecast: Likely Short or None
Verified for 2019 by Ric Gresia, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Located in North Chesterfield, Market Square III offers a variety of one- and two-bedroom apartments and cottages. Located on the Winchester Greens campus, this 55 and older senior community provides attractive, convenient, affordable homes with many amenities, including a community room and lounge with fireplace, on-site laundry, off-street parking and landscaped courtyards. Washer/Dryer available (cottages only). Residents also enjoy conveniences such as The Bermuda Health Care Center, banks, and restaurants located next to our community. Short drive from grocery stores and entertainment.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Market Square III does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $37,350 / year | $42,650 / year | $48,000 / year | $53,300 / year | $57,600 / year | $61,850 / year | $66,100 / year | $70,400 / year |
| 50% AMI for PBRA Units | $37,350 / year | $42,650 / year | $48,000 / year | $53,300 / year | $57,600 / year | $61,850 / year | $66,100 / year | $70,400 / year |
| 60% AMI for LIHTC Units | $44,820 / year | $51,180 / year | $57,600 / year | $63,960 / year | $69,120 / year | $74,220 / year | $79,320 / year | $84,480 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Market Square III have a waiting list?
Market Square III probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Market Square III?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Market Square III?
Market Square III is managed by Better Housing Coalition headquartered in Richmond, VA.
In addition to Market Square III, how many other affordable housing properties (and units) are there in Richmond?
In addition to Market Square III, we list 505 other affordable properties in Richmond. Learn about these properties here. Our data research shows that there are a total of 18088 affordable units in Richmond.
1221 E Brookland Park Blvd, Richmond, Virginia 23222
214 E 9th Street, Richmond, Virginia 23224
5001 Ridgedale Parkway #107, Richmond, Virginia 23234
1400 Shirleydale Ave, Richmond, Virginia 23231
2501 W Broad St, Richmond, Virginia 23220
4325 Crutchfield St , Richmond, Virginia 23225
Applying for housing with bad credit.
Most HUD housing programs, like Section 8 and Public Housing, do not have a credit check. But Section 8 landlords will likely require one for an available unit.Lorraine Dale says:
"I have visited Affordable Housing Online over and over again to get on waiting lists. I never would have even gotten on them without this information!"