About This Property
Valley Place Apts comprises 18 one-bedroom units serving elderly residents in Burnsville, NC. The property has been in service since 1997 and utilizes 4% Low Income Housing Tax Credits to maintain affordability. All 18 units are designated as low-income housing.
Property Details
Fair Market Rent - Yancey 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 | $647 |
| 1 Bedroom | $651 |
| 2 Bedroom | $856 |
| 3 Bedroom | $1,136 |
| 4 Bedroom | $1,140 |
Income Limits - Yancey 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 Burnsville, NC?+
The Fair Market Rent (FMR) for Yancey County, NC is: $647 (Studio), $651 (1BR), $856 (2BR), $1136 (3BR), $1140 (4BR). Actual rent at subsidized properties like Valley Place Apts is typically 30% of household income or less.
What size apartments are available at Valley Place Apts?+
Valley Place Apts offers the following unit types: 18 One-Bedroom units, for a total of 18 units.
Who manages Valley Place Apts?+
Valley Place Apts is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Yancey County, NC?+
For a 4-person household in Yancey 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 price range for apartments in Burnsville, NC?+
Based on Fair Market Rent for Yancey County, the estimated price range is: 1-bedroom: $651. Actual rent at Valley Place Apts may be lower for income-eligible households.
Who is eligible to live at Valley Place Apts?+
Valley Place Apts primarily serves elderly residents. 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 Valley Place Apts?+
Valley Place 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.
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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