Stony Run Apartments, located at Southside of Rt 40 in North East, has one, two and three bedroom apartments. Stony Run Apartments participates in the Low-Income Housing Tax Credit (LIHTC) program.
Last updated on December 18th, 2018
|1 Bedroom (1/1)||-||Income Based|
|2 Bedroom (2/1)||-||Income Based|
|3 Bedroom (3/1.5)||-||Income Based|
Stony Run, in North East, MD is located in a suburban setting right on Rte. 40 and offers the best in affordable housing. The variety of floor plans make it easy to meet your individual family needs. With attractive building design and professionally landscaped grounds, including a playground, Stony Run is more than an apartment, it is a place your family can call home. Our community center offers a comprehensive package of on-site services. Staffing includes a Tenant Service Coordinator to assist our residents in obtaining a wide variety of services. Computers with internet service are available for educational purposes. An after school homework club is offered daily to all school aged children. Other activities include community events, vocational training, health and nutritional services, financial counseling and more.
Stony Run is conveniently located on a Cecil County bus route. A short 10 minute ride south brings you to the town of Perryville and its abundance of retail shopping outlets and restaurants. Community services and convenience stores are all within walking distance. Come see why you should be calling Stony Run Apartments Home!
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.
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 North East but actual income limits may differ for units at Stony Run Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$31,550||$36,050||$40,550||$45,050||$48,700||$52,300||$55,900||$59,500|
|Low Income (60%)||$37,860||$43,260||$48,660||$54,060||$58,440||$62,760||$67,080||$71,400|
Stony Run Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
Stony Run Apartments is managed by Fairville Management Company.