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New Horizons

503 Muir Street, Cambridge, Maryland 21613

Three story senior community for 62 years of age or an individual with a disability regardless of age. Within walking distance to downtown area and medical facility right next door. Close shopping, banks, library and transportation. We have many activities throughout the year.

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Units

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

New Horizons Details

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

Property Amenities

  • Controlled Access
  • Community Room
  • Laundry Room
  • 24hr Emergency Maintenance
  • Rural Area

Unit Amenities

  • Air Conditioning
  • Cable/Satellite TV
  • Window Coverings
  • Security System

Nearby Amenities

  • Close to Dining
  • Close to Downtown District
  • Close to Public Transportation
  • Close to Shopping
  • Near Hospital
  • Near Library

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.

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.

Cambridge 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 Cambridge but actual income limits may differ for units at New Horizons.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $15,300 $17,500 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% $25,500 $29,150 $32,800 $36,400 $39,350 $42,250 $45,150 $48,050
80% $40,800 $46,600 $52,450 $58,250 $62,950 $67,600 $72,250 $76,900

Cambridge 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 Cambridge but actual income limits may differ for units at New Horizons.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $25,500 $29,150 $32,800 $36,400 $39,350 $42,250 $45,150 $48,050
Low Income (60%) $30,600 $34,980 $39,360 $43,680 $47,220 $50,700 $54,180 $57,660

New Horizons is managed by TM Associates Management, Inc.

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Image of New Horizons
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