About This Property
Historic Elk Park School contains 40 low-income units serving elderly residents in Elk Park, NC, with 37 one-bedroom and 3 two-bedroom apartments. The property was placed in service in 2004 and utilizes 4% LIHTC credit financing along with HOME funding. Management and leasing information is available through the property contact.
Property Details
Fair Market Rent - Avery County, NC
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $776 |
| 1 Bedroom | $781 |
| 2 Bedroom | $1,026 |
| 3 Bedroom | $1,241 |
| 4 Bedroom | $1,366 |
Income Limits - Avery County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,500
- Low (80%)
- $32,800
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,400
- Low (80%)
- $37,450
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $26,350
- Low (80%)
- $42,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $29,250
- Low (80%)
- $46,800
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $31,600
- Low (80%)
- $50,550
- Extremely Low (30%)
- $33,950
- Very Low (50%)
- $33,950
- Low (80%)
- $54,300
- Extremely Low (30%)
- $36,300
- Very Low (50%)
- $36,300
- Low (80%)
- $58,050
- Extremely Low (30%)
- $38,650
- Very Low (50%)
- $38,650
- Low (80%)
- $61,800
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,500 | $32,800 |
| 2 Persons | $17,420 | $23,400 | $37,450 |
| 3 Persons | $21,960 | $26,350 | $42,150 |
| 4 Persons | $26,500 | $29,250 | $46,800 |
| 5 Persons | $31,040 | $31,600 | $50,550 |
| 6 Persons | $33,950 | $33,950 | $54,300 |
| 7 Persons | $36,300 | $36,300 | $58,050 |
| 8 Persons | $38,650 | $38,650 | $61,800 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Elk Park, NC?+
The Fair Market Rent (FMR) for Avery County, NC is: $776 (Studio), $781 (1BR), $1026 (2BR), $1241 (3BR), $1366 (4BR). Actual rent at subsidized properties like Historic Elk Park School is typically 30% of household income or less.
What size apartments are available at Historic Elk Park School?+
Historic Elk Park School offers the following unit types: 37 One-Bedroom, 3 Two-Bedroom units, for a total of 40 units.
Who manages Historic Elk Park School?+
Historic Elk Park School is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Historic Elk Park School?+
Historic Elk Park School 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 Elk Park, NC?+
Based on Fair Market Rent for Avery County, the estimated price range is: 1-bedroom: $781, 2-bedroom: $1026. Actual rent at Historic Elk Park School may be lower for income-eligible households.
What are the income limits for affordable housing in Avery County, NC?+
For a 4-person household in Avery County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $29,250, Low Income (80% AMI): $46,800. These limits are set by HUD and updated annually.
Who is eligible to live at Historic Elk Park School?+
Historic Elk Park School primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Almost All Errands Require a Car