About This Property
Oak Terrace comprises 18 one-bedroom units serving low-income families in Bonifay, FL. The property has been in service since 1994 and receives 9% Low-Income Housing Tax Credit funding. Management and contact information are available upon request.
Waitlist Information
Waitlist managed by Holmes County Housing Authority
The waitlist accepts pre-applications. Residency preferences are often given to locals, and declining two invitations may purge an application from the waitlist.
No current information found regarding an open waitlist or specific preferences for a closed list.
Waitlist data provided by section8waitlist.org
Updated July 28, 2026
Property Details
Fair Market Rent - Holmes County, FL
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $785 |
| 1 Bedroom | $793 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,201 |
| 4 Bedroom | $1,205 |
Income Limits - Holmes County, FL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $19,400
- Low (80%)
- $31,050
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $22,200
- Low (80%)
- $35,450
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $24,950
- Low (80%)
- $39,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $27,700
- Low (80%)
- $44,300
- Extremely Low (30%)
- $29,950
- Very Low (50%)
- $29,950
- Low (80%)
- $47,850
- Extremely Low (30%)
- $32,150
- Very Low (50%)
- $32,150
- Low (80%)
- $51,400
- Extremely Low (30%)
- $34,350
- Very Low (50%)
- $34,350
- Low (80%)
- $54,950
- Extremely Low (30%)
- $36,600
- Very Low (50%)
- $36,600
- Low (80%)
- $58,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $19,400 | $31,050 |
| 2 Persons | $17,420 | $22,200 | $35,450 |
| 3 Persons | $21,960 | $24,950 | $39,900 |
| 4 Persons | $26,500 | $27,700 | $44,300 |
| 5 Persons | $29,950 | $29,950 | $47,850 |
| 6 Persons | $32,150 | $32,150 | $51,400 |
| 7 Persons | $34,350 | $34,350 | $54,950 |
| 8 Persons | $36,600 | $36,600 | $58,500 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Bonifay, FL?+
The Fair Market Rent (FMR) for Holmes County, FL is: $785 (Studio), $793 (1BR), $905 (2BR), $1201 (3BR), $1205 (4BR). Actual rent at subsidized properties like Oak Terrace is typically 30% of household income or less.
What size apartments are available at Oak Terrace?+
Oak Terrace offers the following unit types: 18 One-Bedroom units, for a total of 18 units.
How do I apply for housing at Oak Terrace?+
Oak Terrace 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 manages Oak Terrace?+
Oak Terrace is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Holmes County, FL?+
For a 4-person household in Holmes County, FL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $27,700, Low Income (80% AMI): $44,300. These limits are set by HUD and updated annually.
Who is eligible to live at Oak Terrace?+
Oak Terrace primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Bonifay, FL?+
Based on Fair Market Rent for Holmes County, the estimated price range is: 1-bedroom: $793. Actual rent at Oak Terrace may be lower for income-eligible households.
Is there a waitlist for Oak Terrace?+
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.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
