About This Property
Dermott Terrace consists of 33 units serving low-income residents in Dermott, AR. The property includes 2 studios, 7 one-bedroom units, and 23 two-bedroom units, with 32 units designated as low-income housing. The community has been in service since 2007 and operates under 4% Low-Income Housing Tax Credit financing.
Property Details
Fair Market Rent - Chicot County, AR
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $604 |
| 1 Bedroom | $620 |
| 2 Bedroom | $814 |
| 3 Bedroom | $1,089 |
| 4 Bedroom | $1,376 |
Income Limits - Chicot County, AR
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $18,950
- Low (80%)
- $30,350
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $21,650
- Low (80%)
- $34,650
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $24,350
- Low (80%)
- $39,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $27,050
- Low (80%)
- $43,300
- Extremely Low (30%)
- $29,250
- Very Low (50%)
- $29,250
- Low (80%)
- $46,800
- Extremely Low (30%)
- $31,400
- Very Low (50%)
- $31,400
- Low (80%)
- $50,250
- Extremely Low (30%)
- $33,550
- Very Low (50%)
- $33,550
- Low (80%)
- $53,700
- Extremely Low (30%)
- $35,750
- Very Low (50%)
- $35,750
- Low (80%)
- $57,200
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $18,950 | $30,350 |
| 2 Persons | $17,420 | $21,650 | $34,650 |
| 3 Persons | $21,960 | $24,350 | $39,000 |
| 4 Persons | $26,500 | $27,050 | $43,300 |
| 5 Persons | $29,250 | $29,250 | $46,800 |
| 6 Persons | $31,400 | $31,400 | $50,250 |
| 7 Persons | $33,550 | $33,550 | $53,700 |
| 8 Persons | $35,750 | $35,750 | $57,200 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Dermott, AR?+
The Fair Market Rent (FMR) for Chicot County, AR is: $604 (Studio), $620 (1BR), $814 (2BR), $1089 (3BR), $1376 (4BR). Actual rent at subsidized properties like Dermott Terrace Fka Dermott Villas is typically 30% of household income or less.
What size apartments are available at Dermott Terrace Fka Dermott Villas?+
Dermott Terrace Fka Dermott Villas offers the following unit types: 2 Studio, 7 One-Bedroom, 23 Two-Bedroom units, for a total of 33 units.
How do I apply for housing at Dermott Terrace Fka Dermott Villas?+
Dermott Terrace Fka Dermott Villas is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What are the income limits for affordable housing in Chicot County, AR?+
For a 4-person household in Chicot County, AR, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $27,050, Low Income (80% AMI): $43,300. These limits are set by HUD and updated annually.
Who manages Dermott Terrace Fka Dermott Villas?+
Dermott Terrace Fka Dermott Villas is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Dermott, AR?+
Based on Fair Market Rent for Chicot County, the estimated price range is: 1-bedroom: $620, 2-bedroom: $814. Actual rent at Dermott Terrace Fka Dermott Villas may be lower for income-eligible households.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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