About This Property
Oak Crest Apts is a 100-unit affordable housing community in Kannapolis, NC that serves families with low incomes. The property offers a mix of unit sizes including 40 two-bedroom, 48 three-bedroom, and 12 four-bedroom apartments. Placed in service in 1997, the community is funded through 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Cabarrus 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 | $1,347 |
| 1 Bedroom | $1,384 |
| 2 Bedroom | $1,554 |
| 3 Bedroom | $1,936 |
| 4 Bedroom | $2,481 |
Income Limits - Cabarrus County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $17,700
- Very Low (50%)
- $29,500
- Low (80%)
- $47,150
- Extremely Low (30%)
- $20,200
- Very Low (50%)
- $33,700
- Low (80%)
- $53,900
- Extremely Low (30%)
- $22,750
- Very Low (50%)
- $37,900
- Low (80%)
- $60,650
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $42,100
- Low (80%)
- $67,350
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $45,500
- Low (80%)
- $72,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $48,850
- Low (80%)
- $78,150
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $52,250
- Low (80%)
- $83,550
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $55,600
- Low (80%)
- $88,950
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $17,700 | $29,500 | $47,150 |
| 2 Persons | $20,200 | $33,700 | $53,900 |
| 3 Persons | $22,750 | $37,900 | $60,650 |
| 4 Persons | $26,500 | $42,100 | $67,350 |
| 5 Persons | $31,040 | $45,500 | $72,750 |
| 6 Persons | $35,580 | $48,850 | $78,150 |
| 7 Persons | $40,120 | $52,250 | $83,550 |
| 8 Persons | $44,660 | $55,600 | $88,950 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Kannapolis, NC?+
The Fair Market Rent (FMR) for Cabarrus County, NC is: $1347 (Studio), $1384 (1BR), $1554 (2BR), $1936 (3BR), $2481 (4BR). Actual rent at subsidized properties like Oak Crest Apts is typically 30% of household income or less.
What size apartments are available at Oak Crest Apts?+
Oak Crest Apts offers the following unit types: 40 Two-Bedroom, 48 Three-Bedroom, 12 Four-Bedroom units, for a total of 100 units.
Who is eligible to live at Oak Crest Apts?+
Oak Crest Apts primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Kannapolis, NC?+
Based on Fair Market Rent for Cabarrus County, the estimated price range is: 2-bedroom: $1554, 3-bedroom: $1936. Actual rent at Oak Crest Apts may be lower for income-eligible households.
What are the income limits for affordable housing in Cabarrus County, NC?+
For a 4-person household in Cabarrus County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $42,100, Low Income (80% AMI): $67,350. These limits are set by HUD and updated annually.
Who manages Oak Crest Apts?+
Oak Crest Apts is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Oak Crest Apts?+
Oak Crest Apts 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.
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