About This Property
Drake Terrace III comprises 46 low-income rental units in Kendallville, Indiana, offering a mix of one-, two-, and three-bedroom floor plans. The property was placed in service in 1992 and currently serves 46 households in Noble County.
Waitlist Information
Waitlist managed by Housing Authority of the City of Kendallville
Applications are placed by date and time received. Priority is given to seniors age 62 or older or those who receive SSI disability benefits.
No active waitlist information currently available. When open, applications are placed by date and time received, with priority for seniors age 62 or older or those receiving SSI disability benefits.
Waitlist data provided by section8waitlist.org
Updated April 17, 2026
Property Details
Fair Market Rent - Noble County, IN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $594 |
| 1 Bedroom | $667 |
| 2 Bedroom | $877 |
| 3 Bedroom | $1,077 |
| 4 Bedroom | $1,397 |
Income Limits - Noble County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,250
- Very Low (50%)
- $23,750
- Low (80%)
- $38,000
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $27,150
- Low (80%)
- $43,400
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,550
- Low (80%)
- $48,850
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $33,900
- Low (80%)
- $54,250
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $36,650
- Low (80%)
- $58,600
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $39,350
- Low (80%)
- $62,950
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $42,050
- Low (80%)
- $67,300
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $44,750
- Low (80%)
- $71,650
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,250 | $23,750 | $38,000 |
| 2 Persons | $17,420 | $27,150 | $43,400 |
| 3 Persons | $21,960 | $30,550 | $48,850 |
| 4 Persons | $26,500 | $33,900 | $54,250 |
| 5 Persons | $31,040 | $36,650 | $58,600 |
| 6 Persons | $35,580 | $39,350 | $62,950 |
| 7 Persons | $40,120 | $42,050 | $67,300 |
| 8 Persons | $44,660 | $44,750 | $71,650 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Kendallville, IN?+
The Fair Market Rent (FMR) for Noble County, IN is: $594 (Studio), $667 (1BR), $877 (2BR), $1077 (3BR), $1397 (4BR). Actual rent at subsidized properties like Drake Terrace Iii is typically 30% of household income or less.
What size apartments are available at Drake Terrace Iii?+
Drake Terrace Iii offers the following unit types: 6 One-Bedroom, 32 Two-Bedroom, 8 Three-Bedroom units, for a total of 46 units.
How do I apply for housing at Drake Terrace Iii?+
Drake Terrace Iii 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 is the price range for apartments in Kendallville, IN?+
Based on Fair Market Rent for Noble County, the estimated price range is: 1-bedroom: $667, 2-bedroom: $877, 3-bedroom: $1077. Actual rent at Drake Terrace Iii may be lower for income-eligible households.
What are the income limits for affordable housing in Noble County, IN?+
For a 4-person household in Noble County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $33,900, Low Income (80% AMI): $54,250. These limits are set by HUD and updated annually.
Is there a waitlist for Drake Terrace Iii?+
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.
Who manages Drake Terrace Iii?+
Drake Terrace Iii is managed by . You can reach them at . Visit their website for more 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.
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