About This Property
Norwood Terrace comprises 115 low-income units in the Bronx that opened in 2016 and serves residents with disabilities. The property offers a range of unit sizes, including 58 studios, 17 one-bedroom units, 38 two-bedroom units, and 2 three-bedroom units. The development utilizes 4% Low-Income Housing Tax Credits to support its affordability.
Property Details
Fair Market Rent - Bronx County, NY
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $2,386 |
| 1 Bedroom | $2,451 |
| 2 Bedroom | $2,752 |
| 3 Bedroom | $3,434 |
| 4 Bedroom | $3,700 |
Income Limits - Bronx County, NY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $25,100
- Very Low (50%)
- $41,800
- Low (80%)
- $66,850
- Extremely Low (30%)
- $28,650
- Very Low (50%)
- $47,750
- Low (80%)
- $76,400
- Extremely Low (30%)
- $32,250
- Very Low (50%)
- $53,700
- Low (80%)
- $85,950
- Extremely Low (30%)
- $35,800
- Very Low (50%)
- $59,650
- Low (80%)
- $95,450
- Extremely Low (30%)
- $38,700
- Very Low (50%)
- $64,450
- Low (80%)
- $103,100
- Extremely Low (30%)
- $41,550
- Very Low (50%)
- $69,200
- Low (80%)
- $110,750
- Extremely Low (30%)
- $44,400
- Very Low (50%)
- $74,000
- Low (80%)
- $118,400
- Extremely Low (30%)
- $47,300
- Very Low (50%)
- $78,750
- Low (80%)
- $126,000
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $25,100 | $41,800 | $66,850 |
| 2 Persons | $28,650 | $47,750 | $76,400 |
| 3 Persons | $32,250 | $53,700 | $85,950 |
| 4 Persons | $35,800 | $59,650 | $95,450 |
| 5 Persons | $38,700 | $64,450 | $103,100 |
| 6 Persons | $41,550 | $69,200 | $110,750 |
| 7 Persons | $44,400 | $74,000 | $118,400 |
| 8 Persons | $47,300 | $78,750 | $126,000 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Bronx, NY?+
The Fair Market Rent (FMR) for Bronx County, NY is: $2386 (Studio), $2451 (1BR), $2752 (2BR), $3434 (3BR), $3700 (4BR). Actual rent at subsidized properties like Norwood Terrace is typically 30% of household income or less.
What size apartments are available at Norwood Terrace?+
Norwood Terrace offers the following unit types: 58 Studio, 17 One-Bedroom, 38 Two-Bedroom, 2 Three-Bedroom units, for a total of 115 units.
Who manages Norwood Terrace?+
Norwood Terrace is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Norwood Terrace?+
Norwood Terrace primarily serves persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Norwood Terrace?+
Norwood 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.
What are the income limits for affordable housing in Bronx County, NY?+
For a 4-person household in Bronx County, NY, the income limits are: Extremely Low Income (30% AMI): $35,800, Very Low Income (50% AMI): $59,650, Low Income (80% AMI): $95,450. These limits are set by HUD and updated annually.
What is the price range for apartments in Bronx, NY?+
Based on Fair Market Rent for Bronx County, the estimated price range is: 1-bedroom: $2451, 2-bedroom: $2752, 3-bedroom: $3434. Actual rent at Norwood Terrace may be lower for income-eligible households.
Walk Score
Walker's Paradise
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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