About This Property
Covington Way is a 64-unit affordable housing community in Wilkesboro, NC serving families with low incomes. The property includes 48 two-bedroom units and 16 three-bedroom units and has been in service since 2014. The community is financed through 9% Low-Income Housing Tax Credits.
Property Details
HUD Inspection Score
HUD inspects properties on a 0-100 scale. Scores above 60 are considered passing.
Fair Market Rent - Wilkes 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 | $713 |
| 1 Bedroom | $745 |
| 2 Bedroom | $856 |
| 3 Bedroom | $1,139 |
| 4 Bedroom | $1,274 |
Income Limits - Wilkes County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,500
- Low (80%)
- $32,800
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,400
- Low (80%)
- $37,450
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $26,350
- Low (80%)
- $42,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $29,250
- Low (80%)
- $46,800
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $31,600
- Low (80%)
- $50,550
- Extremely Low (30%)
- $33,950
- Very Low (50%)
- $33,950
- Low (80%)
- $54,300
- Extremely Low (30%)
- $36,300
- Very Low (50%)
- $36,300
- Low (80%)
- $58,050
- Extremely Low (30%)
- $38,650
- Very Low (50%)
- $38,650
- Low (80%)
- $61,800
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,500 | $32,800 |
| 2 Persons | $17,420 | $23,400 | $37,450 |
| 3 Persons | $21,960 | $26,350 | $42,150 |
| 4 Persons | $26,500 | $29,250 | $46,800 |
| 5 Persons | $31,040 | $31,600 | $50,550 |
| 6 Persons | $33,950 | $33,950 | $54,300 |
| 7 Persons | $36,300 | $36,300 | $58,050 |
| 8 Persons | $38,650 | $38,650 | $61,800 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Wilkesboro, NC?+
The Fair Market Rent (FMR) for Wilkes County, NC is: $713 (Studio), $745 (1BR), $856 (2BR), $1139 (3BR), $1274 (4BR). Actual rent at subsidized properties like Covington Way is typically 30% of household income or less.
What size apartments are available at Covington Way?+
Covington Way offers the following unit types: 48 Two-Bedroom, 16 Three-Bedroom units, for a total of 64 units.
Who manages Covington Way?+
Covington Way is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Covington Way?+
Covington Way 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 Covington Way?+
Covington Way 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 are the income limits for affordable housing in Wilkes County, NC?+
For a 4-person household in Wilkes County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $29,250, Low Income (80% AMI): $46,800. These limits are set by HUD and updated annually.
What is the HUD inspection score for Covington Way?+
Covington Way has a HUD inspection score of 97 out of 100, which is considered excellent. HUD inspects subsidized housing properties to ensure they meet minimum health and safety standards. Scores of 60 or above are considered passing.
What is the price range for apartments in Wilkesboro, NC?+
Based on Fair Market Rent for Wilkes County, the estimated price range is: 2-bedroom: $856, 3-bedroom: $1139. Actual rent at Covington Way may be lower for income-eligible households.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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