About This Property
Craven Terrace II comprises 182 units in New Bern, North Carolina, with 188 designated low-income units that were placed in service in 2017. The property offers a variety of floor plans including 94 one-bedroom, 60 two-bedroom, and 28 three-bedroom units designed to serve families. Financing for the property includes tax-exempt bonds.
Waitlist Information
Waitlist managed by Twin Rivers Opportunities, Inc.
The waitlist is closed; if an applicant declines two invitations, their application will be purged from the waitlist.
Eligibility requires low income, US Citizen or Documented Alien Certification, and being 18 years or older or an Emancipated Head of Household residing in Craven, Jones, or Pamlico Counties. Applicants must reside in Craven, Jones, or Pamlico County when applying to be eligible for porting after one year of residency within those counties. Incomplete applications will not be processed.
Waitlist data provided by section8waitlist.org
Updated May 29, 2026
Property Details
Fair Market Rent - Craven 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 | $928 |
| 1 Bedroom | $935 |
| 2 Bedroom | $1,228 |
| 3 Bedroom | $1,660 |
| 4 Bedroom | $2,084 |
Income Limits - Craven County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,450
- Very Low (50%)
- $22,350
- Low (80%)
- $35,750
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,550
- Low (80%)
- $40,850
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,750
- Low (80%)
- $45,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,900
- Low (80%)
- $51,050
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,500
- Low (80%)
- $55,150
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $37,050
- Low (80%)
- $59,250
- Extremely Low (30%)
- $39,600
- Very Low (50%)
- $39,600
- Low (80%)
- $63,350
- Extremely Low (30%)
- $42,150
- Very Low (50%)
- $42,150
- Low (80%)
- $67,400
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,450 | $22,350 | $35,750 |
| 2 Persons | $17,420 | $25,550 | $40,850 |
| 3 Persons | $21,960 | $28,750 | $45,950 |
| 4 Persons | $26,500 | $31,900 | $51,050 |
| 5 Persons | $31,040 | $34,500 | $55,150 |
| 6 Persons | $35,580 | $37,050 | $59,250 |
| 7 Persons | $39,600 | $39,600 | $63,350 |
| 8 Persons | $42,150 | $42,150 | $67,400 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in New Bern, NC?+
The Fair Market Rent (FMR) for Craven County, NC is: $928 (Studio), $935 (1BR), $1228 (2BR), $1660 (3BR), $2084 (4BR). Actual rent at subsidized properties like Craven Terrace Ii is typically 30% of household income or less.
What size apartments are available at Craven Terrace Ii?+
Craven Terrace Ii offers the following unit types: 94 One-Bedroom, 60 Two-Bedroom, 28 Three-Bedroom units, for a total of 182 units.
Who is eligible to live at Craven Terrace Ii?+
Craven Terrace Ii primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Craven Terrace Ii?+
Craven Terrace Ii is managed by . You can reach them at .
Is there a waitlist for Craven Terrace Ii?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Open. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
How do I apply for housing at Craven Terrace Ii?+
Craven Terrace Ii 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.
What are the income limits for affordable housing in Craven County, NC?+
For a 4-person household in Craven County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,900, Low Income (80% AMI): $51,050. These limits are set by HUD and updated annually.
What is the price range for apartments in New Bern, NC?+
Based on Fair Market Rent for Craven County, the estimated price range is: 1-bedroom: $935, 2-bedroom: $1228, 3-bedroom: $1660. Actual rent at Craven Terrace Ii may be lower for income-eligible households.
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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