About This Property
Crestwood Terrace provides 24 low-income units in Newport, NY, serving elderly residents with a mix of 22 one-bedroom and 2 two-bedroom apartments. The property, placed in service in 1993, operates with 4% Low-Income Housing Tax Credit (LIHTC) financing. This Herkimer County development offers affordable housing options for qualifying low-income households.
Property Details
Fair Market Rent - Herkimer 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 | $785 |
| 1 Bedroom | $790 |
| 2 Bedroom | $992 |
| 3 Bedroom | $1,199 |
| 4 Bedroom | $1,410 |
Income Limits - Herkimer County, NY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,200
- Very Low (50%)
- $25,350
- Low (80%)
- $40,550
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $29,000
- Low (80%)
- $46,350
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,600
- Low (80%)
- $52,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,200
- Low (80%)
- $57,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $39,100
- Low (80%)
- $62,550
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $42,000
- Low (80%)
- $67,200
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,900
- Low (80%)
- $71,800
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,800
- Low (80%)
- $76,450
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,200 | $25,350 | $40,550 |
| 2 Persons | $17,420 | $29,000 | $46,350 |
| 3 Persons | $21,960 | $32,600 | $52,150 |
| 4 Persons | $26,500 | $36,200 | $57,900 |
| 5 Persons | $31,040 | $39,100 | $62,550 |
| 6 Persons | $35,580 | $42,000 | $67,200 |
| 7 Persons | $40,120 | $44,900 | $71,800 |
| 8 Persons | $44,660 | $47,800 | $76,450 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Newport, NY?+
The Fair Market Rent (FMR) for Herkimer County, NY is: $785 (Studio), $790 (1BR), $992 (2BR), $1199 (3BR), $1410 (4BR). Actual rent at subsidized properties like Crestwood Terrace is typically 30% of household income or less.
What size apartments are available at Crestwood Terrace?+
Crestwood Terrace offers the following unit types: 22 One-Bedroom, 2 Two-Bedroom units, for a total of 24 units.
How do I apply for housing at Crestwood Terrace?+
Crestwood 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 is the price range for apartments in Newport, NY?+
Based on Fair Market Rent for Herkimer County, the estimated price range is: 1-bedroom: $790, 2-bedroom: $992. Actual rent at Crestwood Terrace may be lower for income-eligible households.
Who manages Crestwood Terrace?+
Crestwood Terrace is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Herkimer County, NY?+
For a 4-person household in Herkimer County, NY, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,200, Low Income (80% AMI): $57,900. These limits are set by HUD and updated annually.
Who is eligible to live at Crestwood Terrace?+
Crestwood Terrace primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Contact Information
Location
Herkimer County, NY
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