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Clinton Terrace

107 W Water Street, Albany, Kentucky 42602

1 bedroom Elderly, Handicap or Disabled Apartment Homes. We are located in downtown close to shopping and restaurants. This complex has on-site laundry and off street parking available. Utilities included with the rental rate are water, sewer and trash collection. Section 8 is accepted at this property.

Contact Clinton Terrace

Message Clinton Terrace

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom One Bath (1/1) - Call for Price

Clinton Terrace Details

  • 24 one bedroom units.
  • Section 515 Rural Rental Housing
  • Section 521 USDA Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Off-Street Parking
  • Downtown Location
  • On-site Laundry

Unit Amenities

  • Water Trash and Sewer Included

Office Hours

Day Hours
Wednesday 6:30pm-7:30pm
Saturday 10:00am-2:00pm

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Albany HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Albany but actual income limits may differ for units at Clinton Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,760 $17,240 $21,720 $26,200 $28,850 $31,000 $33,150 $35,250
50% $18,700 $21,400 $24,050 $26,700 $28,850 $31,000 $33,150 $35,250
80% $29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400

These general income qualifications for Albany, Kentucky should only be used as a basic guide. To find out if you qualify, contact the community directly.

You can usually make up to 80% of the Area Median Income (AMI) to be eligible for a HUD-Assisted Housing unit, but income qualification tiers for this community may be different due to various policies.

Clinton Terrace receives rental subsidies through HUD-Assisted Housing for some or all of its apartments. Some units may be designated as market rate housing. Market rate units would have no subsidies or income restrictions.

Clinton Terrace is managed by MLP Management Company, LLC.