About This Property
Carolina Spring is a 124-unit residential community in Carrboro that serves elderly residents with low-income housing. The property contains 75 one-bedroom and 49 two-bedroom units and has been in operation since 1998. It is financed through 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Orange 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 | $1,385 |
| 1 Bedroom | $1,418 |
| 2 Bedroom | $1,631 |
| 3 Bedroom | $2,051 |
| 4 Bedroom | $2,510 |
Income Limits - Orange County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $18,150
- Very Low (50%)
- $30,250
- Low (80%)
- $48,400
- Extremely Low (30%)
- $20,750
- Very Low (50%)
- $34,600
- Low (80%)
- $55,300
- Extremely Low (30%)
- $23,350
- Very Low (50%)
- $38,900
- Low (80%)
- $62,200
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $43,200
- Low (80%)
- $69,100
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $46,700
- Low (80%)
- $74,650
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $50,150
- Low (80%)
- $80,200
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $53,600
- Low (80%)
- $85,700
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $57,050
- Low (80%)
- $91,250
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $18,150 | $30,250 | $48,400 |
| 2 Persons | $20,750 | $34,600 | $55,300 |
| 3 Persons | $23,350 | $38,900 | $62,200 |
| 4 Persons | $26,500 | $43,200 | $69,100 |
| 5 Persons | $31,040 | $46,700 | $74,650 |
| 6 Persons | $35,580 | $50,150 | $80,200 |
| 7 Persons | $40,120 | $53,600 | $85,700 |
| 8 Persons | $44,660 | $57,050 | $91,250 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Carrboro, NC?+
The Fair Market Rent (FMR) for Orange County, NC is: $1385 (Studio), $1418 (1BR), $1631 (2BR), $2051 (3BR), $2510 (4BR). Actual rent at subsidized properties like Carolina Spring is typically 30% of household income or less.
What size apartments are available at Carolina Spring?+
Carolina Spring offers the following unit types: 75 One-Bedroom, 49 Two-Bedroom units, for a total of 124 units.
How do I apply for housing at Carolina Spring?+
Carolina Spring 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.
What is the price range for apartments in Carrboro, NC?+
Based on Fair Market Rent for Orange County, the estimated price range is: 1-bedroom: $1418, 2-bedroom: $1631. Actual rent at Carolina Spring may be lower for income-eligible households.
Who is eligible to live at Carolina Spring?+
Carolina Spring primarily serves elderly residents. 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 Orange County, NC?+
For a 4-person household in Orange County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $43,200, Low Income (80% AMI): $69,100. These limits are set by HUD and updated annually.
Who manages Carolina Spring?+
Carolina Spring is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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