1 Etowah Ter SW, Rome, GA 30161
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Etowah Terrace Seniors Residences is the 16th Mercy Housing development in the state of Georgia. This property offers 77 affordable rental apartments for seniors age 55 and above. The property includes 70 apartments affordable to households earning up to 60% of the area median income. Seven apartments are open to market-rate households. Etowah Terrace seeks to create a living environment designed as a vibrant, upscale and mixed-income community and is part of a larger effort to revitalized the surrounding community.
Because Etowah Terrace Senior Residences participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $14,580 / year | $19,720 / year | $24,860 / year | $30,000 / year | $35,140 / year | $38,300 / year | $40,950 / year | $43,600 / year |
| 50% AMI for LIHTC Units | $23,100 / year | $26,400 / year | $29,700 / year | $33,000 / year | $35,650 / year | $38,300 / year | $40,950 / year | $43,600 / year |
| 50% AMI for PBRA Units | $23,100 / year | $26,400 / year | $29,700 / year | $33,000 / year | $35,650 / year | $38,300 / year | $40,950 / year | $43,600 / year |
| 60% AMI for LIHTC Units | $27,720 / year | $31,680 / year | $35,640 / year | $39,600 / year | $42,780 / year | $45,960 / year | $49,140 / year | $52,320 / year |
| 80% AMI for PBRA Units | $37,000 / year | $42,250 / year | $47,550 / year | $52,800 / year | $57,050 / year | $61,250 / year | $65,500 / year | $69,700 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Etowah Terrace Senior Residences have a waiting list?
Etowah Terrace Senior Residences probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Etowah Terrace Senior Residences?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Etowah Terrace Senior Residences?
Etowah Terrace Senior Residences is managed by Mercy Housing headquartered in Denver, Colorado.
In addition to Etowah Terrace Senior Residences, how many other affordable housing properties (and units) are there in Rome?
In addition to Etowah Terrace Senior Residences, we list 41 other affordable properties in Rome. Learn about these properties here. Our data research shows that there are a total of 1491 affordable units in Rome.
When was the Etowah Terrace Senior Residences listing last updated?
Etowah Terrace Senior Residences listing on Affordable Housing Online was last updated on 01/02/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
5 Frost Drive, Rome, Georgia 30165
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