About This Property
Rankin Terrace Apartments comprises 77 low-income units in Wilmington, North Carolina, serving families with a mix of two, three, and four-bedroom floor plans. The property was placed in service in 2015 and utilizes 9% Low-Income Housing Tax Credits. The community offers 30 two-bedroom, 38 three-bedroom, and 9 four-bedroom units.
Waitlist Information
Waitlist managed by Housing Authority of the City of Wilmington
Applications were last accepted for 2, 3, and 4-bedroom public housing apartments at Houston Moore and Vesta Village; preferences included involuntarily displaced persons due to natural disaster, documented state action, or uninhabitable permanent housing.
Eligibility requires earnings of 50% or below the Wilmington area's average median income. Heads of households must be 18 or older. Other requirements include family qualification, proof of citizenship/eligible status, background check, no registered sex offender status, no current/pending criminal charges, credit check, and no evictions/landlord issues in the last three years. Outstanding balances from previous tenancies must be paid in full.
Waitlist data provided by section8waitlist.org
Updated April 17, 2026
Property Details
Fair Market Rent - New Hanover 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 | $1,027 |
| 1 Bedroom | $1,349 |
| 2 Bedroom | $1,515 |
| 3 Bedroom | $2,002 |
| 4 Bedroom | $2,561 |
Income Limits - New Hanover County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,000
- Very Low (50%)
- $26,700
- Low (80%)
- $42,700
- Extremely Low (30%)
- $18,300
- Very Low (50%)
- $30,500
- Low (80%)
- $48,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,300
- Low (80%)
- $54,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,100
- Low (80%)
- $60,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,150
- Low (80%)
- $65,850
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,200
- Low (80%)
- $70,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,250
- Low (80%)
- $75,600
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,300
- Low (80%)
- $80,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,000 | $26,700 | $42,700 |
| 2 Persons | $18,300 | $30,500 | $48,800 |
| 3 Persons | $21,960 | $34,300 | $54,900 |
| 4 Persons | $26,500 | $38,100 | $60,950 |
| 5 Persons | $31,040 | $41,150 | $65,850 |
| 6 Persons | $35,580 | $44,200 | $70,750 |
| 7 Persons | $40,120 | $47,250 | $75,600 |
| 8 Persons | $44,660 | $50,300 | $80,500 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Wilmington, NC?+
The Fair Market Rent (FMR) for New Hanover County, NC is: $1027 (Studio), $1349 (1BR), $1515 (2BR), $2002 (3BR), $2561 (4BR). Actual rent at subsidized properties like Rankin Terrace Apartments is typically 30% of household income or less.
What size apartments are available at Rankin Terrace Apartments?+
Rankin Terrace Apartments offers the following unit types: 30 Two-Bedroom, 38 Three-Bedroom, 9 Four-Bedroom units, for a total of 77 units.
Is there a waitlist for Rankin Terrace Apartments?+
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 manages Rankin Terrace Apartments?+
Rankin Terrace Apartments is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Rankin Terrace Apartments?+
Rankin Terrace 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 Rankin Terrace Apartments?+
Rankin Terrace 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 New Hanover County, NC?+
For a 4-person household in New Hanover County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,100, Low Income (80% AMI): $60,950. These limits are set by HUD and updated annually.
What is the price range for apartments in Wilmington, NC?+
Based on Fair Market Rent for New Hanover County, the estimated price range is: 2-bedroom: $1515, 3-bedroom: $2002. Actual rent at Rankin Terrace Apartments may be lower for income-eligible households.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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