About This Property
Grace Terrace comprises 67 low-income units in Mount Vernon, NY, serving elderly residents with a mix of 66 one-bedroom and 7 two-bedroom apartments. The property has been in service since 2016 and is financed through 9% Low-Income Housing Tax Credits. A non-profit organization owns and operates the community.
Property Details
Fair Market Rent - Westchester 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 | $1,648 |
| 1 Bedroom | $1,934 |
| 2 Bedroom | $2,352 |
| 3 Bedroom | $2,885 |
| 4 Bedroom | $3,132 |
Income Limits - Westchester County, NY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $26,800
- Very Low (50%)
- $44,650
- Low (80%)
- $63,400
- Extremely Low (30%)
- $30,600
- Very Low (50%)
- $51,000
- Low (80%)
- $72,450
- Extremely Low (30%)
- $34,450
- Very Low (50%)
- $57,400
- Low (80%)
- $81,500
- Extremely Low (30%)
- $38,250
- Very Low (50%)
- $63,750
- Low (80%)
- $90,550
- Extremely Low (30%)
- $41,350
- Very Low (50%)
- $68,850
- Low (80%)
- $97,800
- Extremely Low (30%)
- $44,400
- Very Low (50%)
- $73,950
- Low (80%)
- $105,050
- Extremely Low (30%)
- $47,450
- Very Low (50%)
- $79,050
- Low (80%)
- $112,300
- Extremely Low (30%)
- $50,500
- Very Low (50%)
- $84,150
- Low (80%)
- $119,550
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $26,800 | $44,650 | $63,400 |
| 2 Persons | $30,600 | $51,000 | $72,450 |
| 3 Persons | $34,450 | $57,400 | $81,500 |
| 4 Persons | $38,250 | $63,750 | $90,550 |
| 5 Persons | $41,350 | $68,850 | $97,800 |
| 6 Persons | $44,400 | $73,950 | $105,050 |
| 7 Persons | $47,450 | $79,050 | $112,300 |
| 8 Persons | $50,500 | $84,150 | $119,550 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Mount Vernon, NY?+
The Fair Market Rent (FMR) for Westchester County, NY is: $1648 (Studio), $1934 (1BR), $2352 (2BR), $2885 (3BR), $3132 (4BR). Actual rent at subsidized properties like Grace Terrace is typically 30% of household income or less.
What size apartments are available at Grace Terrace?+
Grace Terrace offers the following unit types: 66 One-Bedroom, 7 Two-Bedroom units, for a total of 67 units.
Who manages Grace Terrace?+
Grace Terrace is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Mount Vernon, NY?+
Based on Fair Market Rent for Westchester County, the estimated price range is: 1-bedroom: $1934, 2-bedroom: $2352. Actual rent at Grace Terrace may be lower for income-eligible households.
What are the income limits for affordable housing in Westchester County, NY?+
For a 4-person household in Westchester County, NY, the income limits are: Extremely Low Income (30% AMI): $38,250, Very Low Income (50% AMI): $63,750, Low Income (80% AMI): $90,550. These limits are set by HUD and updated annually.
Who is eligible to live at Grace Terrace?+
Grace Terrace primarily serves elderly residents, frail elderly. 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 Grace Terrace?+
Grace 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
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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