About This Property
Historic Elk Park School contains 40 low-income rental units in Elk Park, North Carolina, serving elderly residents. The property includes 37 one-bedroom units and 3 two-bedroom units, placed in service in 2004 and financed through HOME funding and 4% LIHTC credits. Management and leasing inquiries can be directed to 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 .
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.
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.
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.
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 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.
Walk Score
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