Parkcrest Apartments

602 5th Ave, Asbury Park, New Jersey 07712

Eligibility for Parkcrest Apartments

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 Asbury Park but actual income limits may differ for units at Parkcrest Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $45,150 $51,600 $58,050 $64,500 $69,700 $74,850 $80,000 $85,150
Low Income (60%) $54,180 $61,920 $69,660 $77,400 $83,640 $89,820 $96,000 $102,180

Parkcrest Apartments Details

  • 11 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
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.

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