About This Property
Downtown Terrace offers 40 units of affordable housing in Petersburg, Indiana. The property is situated in Pike County and has been in service since 8888. Interested parties can contact the property management for additional information regarding availability and lease terms.
Property Details
Fair Market Rent - Pike 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 | $600 |
| 1 Bedroom | $769 |
| 2 Bedroom | $863 |
| 3 Bedroom | $1,182 |
| 4 Bedroom | $1,187 |
Income Limits - Pike County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,050
- Very Low (50%)
- $23,400
- Low (80%)
- $37,450
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $26,750
- Low (80%)
- $42,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,100
- Low (80%)
- $48,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $33,400
- Low (80%)
- $53,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $36,100
- Low (80%)
- $57,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $38,750
- Low (80%)
- $62,050
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $41,450
- Low (80%)
- $66,300
- Extremely Low (30%)
- $44,100
- Very Low (50%)
- $44,100
- Low (80%)
- $70,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,050 | $23,400 | $37,450 |
| 2 Persons | $17,420 | $26,750 | $42,800 |
| 3 Persons | $21,960 | $30,100 | $48,150 |
| 4 Persons | $26,500 | $33,400 | $53,450 |
| 5 Persons | $31,040 | $36,100 | $57,750 |
| 6 Persons | $35,580 | $38,750 | $62,050 |
| 7 Persons | $40,120 | $41,450 | $66,300 |
| 8 Persons | $44,100 | $44,100 | $70,600 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Petersburg, IN?+
The Fair Market Rent (FMR) for Pike County, IN is: $600 (Studio), $769 (1BR), $863 (2BR), $1182 (3BR), $1187 (4BR). Actual rent at subsidized properties like Downtown Terrace is typically 30% of household income or less.
What are the income limits for affordable housing in Pike County, IN?+
For a 4-person household in Pike County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $33,400, Low Income (80% AMI): $53,450. These limits are set by HUD and updated annually.
Who manages Downtown Terrace?+
Downtown Terrace is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Downtown Terrace?+
Downtown 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.