About This Property
Terrace Park Apts is a 179-unit affordable housing community in Aurora serving low-income families. The property offers 116 one-bedroom and 63 two-bedroom units and has been in service since 2008. Financing includes tax-exempt bonds and 4% Low-Income Housing Tax Credits.
Waitlist Information
Waitlist managed by Aurora Housing Authority
Senior Housing Waitlist still Open. Pre-application lottery opportunity for Fletcher Gardens, a senior (62 years old or older only) community that is rent subsidized based on income. It started 10:00 am on Friday, May 23, 2025 and will remain open until we reach 200 applications. As of 3/25/2026, there have been 100 applications.
The Aurora Housing Authority does not provide emergency housing that is not referred through the local Continuum of Care or Victim Service Provider. At this time, all EHVs in the metro area have been allocated.
Waitlist data provided by section8waitlist.org
Updated May 29, 2026
Property Details
Fair Market Rent - Arapahoe County, CO
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $1,658 |
| 1 Bedroom | $1,835 |
| 2 Bedroom | $2,201 |
| 3 Bedroom | $2,874 |
| 4 Bedroom | $3,225 |
Income Limits - Arapahoe County, CO
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $22,050
- Very Low (50%)
- $36,700
- Low (80%)
- $55,950
- Extremely Low (30%)
- $25,200
- Very Low (50%)
- $41,950
- Low (80%)
- $63,950
- Extremely Low (30%)
- $28,350
- Very Low (50%)
- $47,200
- Low (80%)
- $71,950
- Extremely Low (30%)
- $31,450
- Very Low (50%)
- $52,400
- Low (80%)
- $79,900
- Extremely Low (30%)
- $34,000
- Very Low (50%)
- $56,600
- Low (80%)
- $86,300
- Extremely Low (30%)
- $36,500
- Very Low (50%)
- $60,800
- Low (80%)
- $92,700
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $65,000
- Low (80%)
- $99,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $69,200
- Low (80%)
- $105,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $22,050 | $36,700 | $55,950 |
| 2 Persons | $25,200 | $41,950 | $63,950 |
| 3 Persons | $28,350 | $47,200 | $71,950 |
| 4 Persons | $31,450 | $52,400 | $79,900 |
| 5 Persons | $34,000 | $56,600 | $86,300 |
| 6 Persons | $36,500 | $60,800 | $92,700 |
| 7 Persons | $40,120 | $65,000 | $99,100 |
| 8 Persons | $44,660 | $69,200 | $105,500 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Aurora, CO?+
The Fair Market Rent (FMR) for Arapahoe County, CO is: $1658 (Studio), $1835 (1BR), $2201 (2BR), $2874 (3BR), $3225 (4BR). Actual rent at subsidized properties like Terrace Park Apts is typically 30% of household income or less.
What size apartments are available at Terrace Park Apts?+
Terrace Park Apts offers the following unit types: 116 One-Bedroom, 63 Two-Bedroom units, for a total of 179 units.
How do I apply for housing at Terrace Park Apts?+
Terrace Park 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.
Who is eligible to live at Terrace Park Apts?+
Terrace Park Apts primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Terrace Park Apts?+
Terrace Park Apts is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Aurora, CO?+
Based on Fair Market Rent for Arapahoe County, the estimated price range is: 1-bedroom: $1835, 2-bedroom: $2201. Actual rent at Terrace Park Apts may be lower for income-eligible households.
Is there a waitlist for Terrace Park Apts?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What are the income limits for affordable housing in Arapahoe County, CO?+
For a 4-person household in Arapahoe County, CO, the income limits are: Extremely Low Income (30% AMI): $31,450, Very Low Income (50% AMI): $52,400, Low Income (80% AMI): $79,900. These limits are set by HUD and updated annually.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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