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Arborwood I Apartments

100 Serpa Place
Fallon, Nevada

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Unit (Bd/Ba)Ft2Rent
One Bedroom (1/1)1Br./1Ba.-Call for PriceMessage
Two Bedroom (2/1)2Br./1Ba.-Call for PriceMessage
Three Bedroom (3/0)3Br./0Ba.-Call for PriceMessage

About Arborwood I Apartments

Arborwood I Apartments is an nice affordable apartment complex. They offer unit and property amenities. For more information, please contact our office.

Arborwood I Apartments is a 36 unit affordable housing community in Fallon, Nevada. The community is located in the 2nd Congressional District of Nevada.

Low Income Housing Tax Credit

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the area. Households earning less than 60% of the area median income qualify for units with reduced rent. Some rental units in this property may not be subject to LIHTC and therefore may be set at levels higher than the area's LIHTC limits.

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.

Rural Development Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 515 properties, insures 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.

Project Based Rental Assistance

Fallon HUD Rental Assistance Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person

Fallon Low Income Housing Tax Credit Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person

Arborwood I Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD's Project Based Section 8 program. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a Project Based Section 8 Program unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Arborwood I Apartments has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

Figuring out income and rent limits for affordable housing can be complex 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.

Managed By Ad-West Realty Services, Inc.
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