Terrace

2321 Halsted Rd, Rockford, IL 61103

Waiting List Forecast: Likely Long or Closed for Rent Assisted units, and Likely Short or None for other affordable units

check_circleVerified for 2019 by Ben D. Layfield, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	1 Bed	1 Bath	550 Sq Ft

Call (815) 654-7313 Email

Waitlist Forecast

Since this property is a LIHTC property that may have rental assistance for some or all units, there might be seperate or split waiting lists for rental assistance and non-rental assistance units. In this case, the rental assistance waiting list can be much longer than properties without rental assistance. The non-rental assistance units waiting list is likely much shorter or it may not have a waiting list at all. 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.

The Terrace Apartments sits on 8.5 acres of well-lighted, mature, well manicured grounds with picnic area, large patio, paved walkway and garden areas for your outdoor enjoyment. Each 1 bedroom apartment is carpeted with a full kitchen and is thoughtfully designed to maximize living and entertaining space.

Our spacious Community Room hosts educational and health programs as well as a wide variety of social activities including bingo, luncheons, craft sessions, day trips and other various activities organized by our Social Service Coordinator.

Connected to the building is a Georgian style mansion housing offices, library, game room and a beautiful living room with a cozy fireplace. The Terrace is located on the #3 Huffman bus route and is situated to give you access to banking, shopping and medical facilities, the best of what the area has to offer.

The Terrace Apartments are an affordable housing community designed to enjoy practical and convenient living. Contact us to learn more!

Dave's Thoughts On Terrace

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. The LIHTC program doesn't provide direct subsidies to the residents, but the owner must set rents affordable to low-income renters in the area. This property does participate in the Section 8 Project-Based Rental Assistance program and your rent would be subsidized and based on your income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. LIHTC properties tend to have shorter waiting lists however, since Terrace has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, since this property has a Section 8 Project-Based Rental Assistance contract, your Section 8 voucher can not be used here. LIHTC properties were first built in the late 1980's and the LIHTC program funds the renovation of older properties. Because they tend to be newer or renovated, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you need help paying your rent and are willing to wait for a longer waiting list.

~ Dave Layfield, Founder of Affordable Housing Online

Terrace Amenities

Library
Laundry Room
Community Garden

Units at Terrace

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	550ft²	Call for Price^†

Income Qualification for Terrace

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
30% AMI for PBRA Units	$17,300 / year	$19,800 / year	$24,860 / year	$30,000 / year	$35,140 / year	$40,280 / year	$45,420 / year	$50,560 / year
50% AMI for LIHTC Units	$28,850 / year	$33,000 / year	$37,100 / year	$41,200 / year	$44,500 / year	$47,800 / year	$51,100 / year	$54,400 / year
50% AMI for PBRA Units	$28,850 / year	$33,000 / year	$37,100 / year	$41,200 / year	$44,500 / year	$47,800 / year	$51,100 / year	$54,400 / year
60% AMI for LIHTC Units	$34,620 / year	$39,600 / year	$44,520 / year	$49,440 / year	$53,400 / year	$57,360 / year	$61,320 / year	$65,280 / year
80% AMI for PBRA Units	$46,150 / year	$52,750 / year	$59,350 / year	$65,900 / year	$71,200 / year	$76,450 / year	$81,750 / year	$87,000 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Terrace

Does Terrace have a waiting list?

Terrace probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Terrace?

We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.

What property management company manges Terrace?

Terrace is managed by Evergreen Real Estate Group headquartered in Chicago, IL.

In addition to Terrace, how many other affordable housing properties (and units) are there in Rockford?

In addition to Terrace, we list 77 other affordable properties in Rockford. Learn about these properties here. Our data research shows that there are a total of 4431 affordable units in Rockford.

Listings Near Terrace