About This Property
Franklinville Terrace comprises 24 units in Franklinville, NY, with 22 units designated for low-income households. The property serves elderly residents and contains 22 one-bedroom apartments. The development was placed in service in 1988 and utilizes 4% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Cattaraugus 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 | $705 |
| 1 Bedroom | $709 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,138 |
| 4 Bedroom | $1,291 |
Income Limits - Cattaraugus County, NY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,600
- Very Low (50%)
- $24,300
- Low (80%)
- $38,850
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $27,800
- Low (80%)
- $44,400
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $31,250
- Low (80%)
- $49,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $34,700
- Low (80%)
- $55,500
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $37,500
- Low (80%)
- $59,950
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $40,300
- Low (80%)
- $64,400
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $43,050
- Low (80%)
- $68,850
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $45,850
- Low (80%)
- $73,300
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,600 | $24,300 | $38,850 |
| 2 Persons | $17,420 | $27,800 | $44,400 |
| 3 Persons | $21,960 | $31,250 | $49,950 |
| 4 Persons | $26,500 | $34,700 | $55,500 |
| 5 Persons | $31,040 | $37,500 | $59,950 |
| 6 Persons | $35,580 | $40,300 | $64,400 |
| 7 Persons | $40,120 | $43,050 | $68,850 |
| 8 Persons | $44,660 | $45,850 | $73,300 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Franklinville, NY?+
The Fair Market Rent (FMR) for Cattaraugus County, NY is: $705 (Studio), $709 (1BR), $905 (2BR), $1138 (3BR), $1291 (4BR). Actual rent at subsidized properties like Franklinville Terrace is typically 30% of household income or less.
What size apartments are available at Franklinville Terrace?+
Franklinville Terrace offers the following unit types: 22 One-Bedroom units, for a total of 24 units.
Who is eligible to live at Franklinville Terrace?+
Franklinville Terrace primarily serves elderly residents. 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 Cattaraugus County, NY?+
For a 4-person household in Cattaraugus County, NY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $34,700, Low Income (80% AMI): $55,500. These limits are set by HUD and updated annually.
Who manages Franklinville Terrace?+
Franklinville Terrace is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Franklinville, NY?+
Based on Fair Market Rent for Cattaraugus County, the estimated price range is: 1-bedroom: $709. Actual rent at Franklinville Terrace may be lower for income-eligible households.
How do I apply for housing at Franklinville Terrace?+
Franklinville 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.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.