About This Property
Cherrywood Apartments comprises 48 low-income units serving families in Cherryville, NC. The property offers a mix of floor plans: eight 1-bedroom, thirty-two 2-bedroom, and eight 3-bedroom units. The community has been in service since 1991.
Property Details
Fair Market Rent - Gaston 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 - Gaston 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 Cherryville, NC?+
The Fair Market Rent (FMR) for Gaston County, NC is: $1347 (Studio), $1384 (1BR), $1554 (2BR), $1936 (3BR), $2481 (4BR). Actual rent at subsidized properties like Cherrywood Apartments is typically 30% of household income or less.
What size apartments are available at Cherrywood Apartments?+
Cherrywood Apartments offers the following unit types: 8 One-Bedroom, 32 Two-Bedroom, 8 Three-Bedroom units, for a total of 48 units.
Who manages Cherrywood Apartments?+
Cherrywood Apartments is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Cherryville, NC?+
Based on Fair Market Rent for Gaston County, the estimated price range is: 1-bedroom: $1384, 2-bedroom: $1554, 3-bedroom: $1936. Actual rent at Cherrywood Apartments may be lower for income-eligible households.
How do I apply for housing at Cherrywood Apartments?+
Cherrywood Apartments 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.
Who is eligible to live at Cherrywood Apartments?+
Cherrywood Apartments primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What are the income limits for affordable housing in Gaston County, NC?+
For a 4-person household in Gaston 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.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Cherrywood Apartments
Helms Duplex
Cherryville, NC
2 UnitsHarlyn House Apts
Cherryville, NC
4 UnitsMartin #2 Duplex
Cherryville, NC
2 UnitsRoss Duplex
Cherryville, NC
2 UnitsYount Duplex
Cherryville, NC
2 UnitsYount Duplex
Cherryville, NC
2 Units