About This Property
Valley Terrace Apts comprises 48 units in Corning, Tehama County, with 47 designated as low-income housing. The property includes 20 one-bedroom, 24 two-bedroom, and 4 three-bedroom units, placed in service in 2006. The development utilizes 4% Low-Income Housing Tax Credits and tax-exempt bond financing.
Property Details
Fair Market Rent - Tehama 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 | $844 |
| 1 Bedroom | $948 |
| 2 Bedroom | $1,245 |
| 3 Bedroom | $1,695 |
| 4 Bedroom | $2,010 |
Income Limits - Tehama County, CA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,650
- Very Low (50%)
- $24,400
- Low (80%)
- $39,050
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $27,900
- Low (80%)
- $44,600
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $31,400
- Low (80%)
- $50,200
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $34,850
- Low (80%)
- $55,750
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $37,650
- Low (80%)
- $60,250
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $40,450
- Low (80%)
- $64,700
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $43,250
- Low (80%)
- $69,150
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $46,050
- Low (80%)
- $73,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,650 | $24,400 | $39,050 |
| 2 Persons | $17,420 | $27,900 | $44,600 |
| 3 Persons | $21,960 | $31,400 | $50,200 |
| 4 Persons | $26,500 | $34,850 | $55,750 |
| 5 Persons | $31,040 | $37,650 | $60,250 |
| 6 Persons | $35,580 | $40,450 | $64,700 |
| 7 Persons | $40,120 | $43,250 | $69,150 |
| 8 Persons | $44,660 | $46,050 | $73,600 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Corning, CA?+
The Fair Market Rent (FMR) for Tehama County, CA is: $844 (Studio), $948 (1BR), $1245 (2BR), $1695 (3BR), $2010 (4BR). Actual rent at subsidized properties like Valley Terrace Apts is typically 30% of household income or less.
What size apartments are available at Valley Terrace Apts?+
Valley Terrace Apts offers the following unit types: 20 One-Bedroom, 24 Two-Bedroom, 4 Three-Bedroom units, for a total of 48 units.
What is the price range for apartments in Corning, CA?+
Based on Fair Market Rent for Tehama County, the estimated price range is: 1-bedroom: $948, 2-bedroom: $1245, 3-bedroom: $1695. Actual rent at Valley Terrace Apts may be lower for income-eligible households.
Who manages Valley Terrace Apts?+
Valley Terrace Apts is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Tehama County, CA?+
For a 4-person household in Tehama County, CA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $34,850, Low Income (80% AMI): $55,750. These limits are set by HUD and updated annually.
How do I apply for housing at Valley Terrace Apts?+
Valley Terrace 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.
Walk Score
Car-Dependent