About This Property
Annunciation Terrace comprises 50 low-income units in Akron, Ohio serving elderly residents. The property includes 40 one-bedroom and 10 two-bedroom units and has been in service since 1999. Financing includes HOME funding and 9% Low-Income Housing Tax Credits, with non-profit ownership and management.
Waitlist Information
Waitlist managed by Akron Metropolitan Housing Authority
Preferences include Summit County residency for those living, working, or attending school full-time, homelessness or paying over 30% of income for rent (7 points), involuntary displacement by government action (3 points), and SCCS Certified Emancipated Youth (2 points). Estimated wait time is 6-18 months depending on family size.
The HCV waiting list closed on April 10, 2026. Preferences when open included Rent Burden or Homeless (7 points) and Involuntary Displacement by Government Action (3 points), SCCS Certified Emancipated Youth (2 points), and Veterans.
Waitlist data provided by section8waitlist.org
Updated October 2, 2026
Property Details
Fair Market Rent - Summit County, OH
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $728 |
| 1 Bedroom | $816 |
| 2 Bedroom | $1,039 |
| 3 Bedroom | $1,301 |
| 4 Bedroom | $1,389 |
Income Limits - Summit County, OH
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,850
- Very Low (50%)
- $28,050
- Low (80%)
- $44,900
- Extremely Low (30%)
- $19,250
- Very Low (50%)
- $32,050
- Low (80%)
- $51,300
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $36,050
- Low (80%)
- $57,700
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,050
- Low (80%)
- $64,100
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $43,300
- Low (80%)
- $69,250
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $46,500
- Low (80%)
- $74,400
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,700
- Low (80%)
- $79,500
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $52,900
- Low (80%)
- $84,650
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,850 | $28,050 | $44,900 |
| 2 Persons | $19,250 | $32,050 | $51,300 |
| 3 Persons | $21,960 | $36,050 | $57,700 |
| 4 Persons | $26,500 | $40,050 | $64,100 |
| 5 Persons | $31,040 | $43,300 | $69,250 |
| 6 Persons | $35,580 | $46,500 | $74,400 |
| 7 Persons | $40,120 | $49,700 | $79,500 |
| 8 Persons | $44,660 | $52,900 | $84,650 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Akron, OH?+
The Fair Market Rent (FMR) for Summit County, OH is: $728 (Studio), $816 (1BR), $1039 (2BR), $1301 (3BR), $1389 (4BR). Actual rent at subsidized properties like Annunciation Terrace is typically 30% of household income or less.
What size apartments are available at Annunciation Terrace?+
Annunciation Terrace offers the following unit types: 40 One-Bedroom, 10 Two-Bedroom units, for a total of 50 units.
Who manages Annunciation Terrace?+
Annunciation Terrace is managed by . You can reach them at . Visit their website for more information.
Is there a waitlist for Annunciation Terrace?+
Public Housing waitlist is currently Open. 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.
How do I apply for housing at Annunciation Terrace?+
Annunciation Terrace 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 Annunciation Terrace?+
Annunciation Terrace primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Akron, OH?+
Based on Fair Market Rent for Summit County, the estimated price range is: 1-bedroom: $816, 2-bedroom: $1039. Actual rent at Annunciation Terrace may be lower for income-eligible households.
What are the income limits for affordable housing in Summit County, OH?+
For a 4-person household in Summit County, OH, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,050, Low Income (80% AMI): $64,100. These limits are set by HUD and updated annually.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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