About This Property
Bankston Arms comprises 40 units in Tunica, Mississippi, with 38 designated as low-income housing serving families. The property offers a mix of 16 two-bedroom and 24 three-bedroom units and has been in service since 2002. The development utilizes 9% Low-Income Housing Tax Credits and is operated by a non-profit organization.
Property Details
Fair Market Rent - Tunica County, MS
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $940 |
| 1 Bedroom | $1,017 |
| 2 Bedroom | $1,191 |
| 3 Bedroom | $1,440 |
| 4 Bedroom | $1,586 |
Income Limits - Tunica County, MS
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $18,600
- Low (80%)
- $29,750
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $21,250
- Low (80%)
- $34,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $23,900
- Low (80%)
- $38,250
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $26,550
- Low (80%)
- $42,500
- Extremely Low (30%)
- $28,700
- Very Low (50%)
- $28,700
- Low (80%)
- $45,900
- Extremely Low (30%)
- $30,800
- Very Low (50%)
- $30,800
- Low (80%)
- $49,300
- Extremely Low (30%)
- $32,950
- Very Low (50%)
- $32,950
- Low (80%)
- $52,700
- Extremely Low (30%)
- $35,050
- Very Low (50%)
- $35,050
- Low (80%)
- $56,100
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $18,600 | $29,750 |
| 2 Persons | $17,420 | $21,250 | $34,000 |
| 3 Persons | $21,960 | $23,900 | $38,250 |
| 4 Persons | $26,500 | $26,550 | $42,500 |
| 5 Persons | $28,700 | $28,700 | $45,900 |
| 6 Persons | $30,800 | $30,800 | $49,300 |
| 7 Persons | $32,950 | $32,950 | $52,700 |
| 8 Persons | $35,050 | $35,050 | $56,100 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Tunica, MS?+
The Fair Market Rent (FMR) for Tunica County, MS is: $940 (Studio), $1017 (1BR), $1191 (2BR), $1440 (3BR), $1586 (4BR). Actual rent at subsidized properties like Bankston Arms is typically 30% of household income or less.
What size apartments are available at Bankston Arms?+
Bankston Arms offers the following unit types: 16 Two-Bedroom, 24 Three-Bedroom units, for a total of 40 units.
Who manages Bankston Arms?+
Bankston Arms is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Bankston Arms?+
Bankston Arms primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What are the income limits for affordable housing in Tunica County, MS?+
For a 4-person household in Tunica County, MS, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $26,550, Low Income (80% AMI): $42,500. These limits are set by HUD and updated annually.
What is the price range for apartments in Tunica, MS?+
Based on Fair Market Rent for Tunica County, the estimated price range is: 2-bedroom: $1191, 3-bedroom: $1440. Actual rent at Bankston Arms may be lower for income-eligible households.
How do I apply for housing at Bankston Arms?+
Bankston Arms 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
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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