About This Property
Wallace Terrace Apts comprises 32 low-income units serving families in Charlotte, NC. The property includes twelve 2-bedroom and twenty 3-bedroom apartments and has been in service since 1999. This LIHTC-financed community provides affordable housing options in Mecklenburg County.
Waitlist Information
Waitlist managed by Inlivian
Inlivian utilizes a site-based waitlist system for its properties, requiring separate applications for each apartment community. Eligibility for income-based housing includes meeting income limits, passing criminal, credit, and eviction background checks, and possessing U.S. citizenship or eligible immigration status. Some properties may offer age preferences, such as 62+ for first priority and 55+ for second priority in senior sites.
The tenant-based Housing Choice Voucher (Section 8) waiting list for Inlivian in Charlotte, NC is currently closed to new applicants. It was last open from September 22, 2014, until September 26, 2014. It is not known when this waiting list will reopen. During its last opening, applications were ...
Waitlist data provided by section8waitlist.org
Updated April 18, 2026
Property Details
Fair Market Rent - Mecklenburg 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 - Mecklenburg 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 Charlotte, NC?+
The Fair Market Rent (FMR) for Mecklenburg County, NC is: $1347 (Studio), $1384 (1BR), $1554 (2BR), $1936 (3BR), $2481 (4BR). Actual rent at subsidized properties like Wallace Terrace Apts is typically 30% of household income or less.
What size apartments are available at Wallace Terrace Apts?+
Wallace Terrace Apts offers the following unit types: 12 Two-Bedroom, 20 Three-Bedroom units, for a total of 32 units.
What are the income limits for affordable housing in Mecklenburg County, NC?+
For a 4-person household in Mecklenburg 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.
What is the price range for apartments in Charlotte, NC?+
Based on Fair Market Rent for Mecklenburg County, the estimated price range is: 2-bedroom: $1554, 3-bedroom: $1936. Actual rent at Wallace Terrace Apts may be lower for income-eligible households.
Who manages Wallace Terrace Apts?+
Wallace Terrace Apts is managed by . You can reach them at . Visit their website for more information.
Is there a waitlist for Wallace Terrace Apts?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Who is eligible to live at Wallace Terrace Apts?+
Wallace Terrace Apts primarily serves families. 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 Wallace Terrace Apts?+
Wallace Terrace 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
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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