About This Property
Drake's Way Apartments comprises 24 units in Larkspur, California, with 23 designated as low-income housing serving families. The property, which opened in 2009, offers a mix of one-, two-, and three-bedroom units and is financed through tax-exempt bonds and 4% Low-Income Housing Tax Credits. The development is currently managed and available for occupancy.
Property Details
Fair Market Rent - Marin County, CA
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $2,292 |
| 1 Bedroom | $2,818 |
| 2 Bedroom | $3,359 |
| 3 Bedroom | $4,112 |
| 4 Bedroom | $4,473 |
Income Limits - Marin County, CA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $38,400
- Very Low (50%)
- $63,950
- Low (80%)
- $102,450
- Extremely Low (30%)
- $43,850
- Very Low (50%)
- $73,100
- Low (80%)
- $117,100
- Extremely Low (30%)
- $49,350
- Very Low (50%)
- $82,250
- Low (80%)
- $131,750
- Extremely Low (30%)
- $54,800
- Very Low (50%)
- $91,350
- Low (80%)
- $146,350
- Extremely Low (30%)
- $59,200
- Very Low (50%)
- $98,700
- Low (80%)
- $158,100
- Extremely Low (30%)
- $63,600
- Very Low (50%)
- $106,000
- Low (80%)
- $169,800
- Extremely Low (30%)
- $68,000
- Very Low (50%)
- $113,300
- Low (80%)
- $181,500
- Extremely Low (30%)
- $72,350
- Very Low (50%)
- $120,600
- Low (80%)
- $193,200
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $38,400 | $63,950 | $102,450 |
| 2 Persons | $43,850 | $73,100 | $117,100 |
| 3 Persons | $49,350 | $82,250 | $131,750 |
| 4 Persons | $54,800 | $91,350 | $146,350 |
| 5 Persons | $59,200 | $98,700 | $158,100 |
| 6 Persons | $63,600 | $106,000 | $169,800 |
| 7 Persons | $68,000 | $113,300 | $181,500 |
| 8 Persons | $72,350 | $120,600 | $193,200 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Larkspur, CA?+
The Fair Market Rent (FMR) for Marin County, CA is: $2292 (Studio), $2818 (1BR), $3359 (2BR), $4112 (3BR), $4473 (4BR). Actual rent at subsidized properties like Drake'S Way Apts is typically 30% of household income or less.
What size apartments are available at Drake'S Way Apts?+
Drake'S Way Apts offers the following unit types: 4 One-Bedroom, 12 Two-Bedroom, 8 Three-Bedroom units, for a total of 24 units.
How do I apply for housing at Drake'S Way Apts?+
Drake'S Way Apts 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 Marin County, CA?+
For a 4-person household in Marin County, CA, the income limits are: Extremely Low Income (30% AMI): $54,800, Very Low Income (50% AMI): $91,350, Low Income (80% AMI): $146,350. These limits are set by HUD and updated annually.
What is the price range for apartments in Larkspur, CA?+
Based on Fair Market Rent for Marin County, the estimated price range is: 1-bedroom: $2818, 2-bedroom: $3359, 3-bedroom: $4112. Actual rent at Drake'S Way Apts may be lower for income-eligible households.
Who is eligible to live at Drake'S Way Apts?+
Drake'S Way Apts primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Drake'S Way Apts?+
Drake'S Way Apts is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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