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Lincoln Terrace Apartments

120 Star Avenue, Stanford, Kentucky 40484

Lincoln Terrace Apartments is a Section 8 income-based property consisting of 1 and 2 bedroom apartments. All utilities are paid except electricity. All utilities are paid except electricity. Our apartments have gas heat, ranges, and hot water heaters. Appliances are provided and we have on-site laundry facilities. A public playground is located right next to our property and Save A Lot grocery is just a few yards down the street. We are also within walking distance of downtown Stanford. Our property is highly recommended by Community Based Services and other entities. Lincoln Terrace is considered to be quiet and peaceful, and to have high standards of quality management and maintenance. Come join our community!

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Income Based
2 Bedrooms (2/1) - Income Based

Lincoln Terrace Apartments Details

  • 48 one and two bedroom units.
  • Water and Sewer utilities included in rent
  • Heat utility included in rent
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Playground
  • Laundry Facilities

Unit Amenities

  • All Appliances included

Nearby Amenities

  • Close to Downtown District
  • Near Grocery

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.

Stanford Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Stanford but actual income limits may differ for units at Lincoln Terrace Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $18,700 $21,400 $24,050 $26,700 $28,850 $31,000 $33,150 $35,250
Low Income (60%) $22,440 $25,680 $28,860 $32,040 $34,620 $37,200 $39,780 $42,300

Lincoln Terrace Apartments is managed by Alco Management Inc..

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