"Situated in Downtown Barnegat, NJ, Laurel Oaks Apartments is an income restricted community designed for residents who value easy access to public transit, Barnegat Bay, and the beaches of Long Beach Island. This community is comprised of 94 one-, two- and three-bedroom apartment homes."
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 Barnegat but actual income limits may differ for units at Laurel Oaks Family Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$38,150||$43,600||$49,050||$54,450||$58,850||$63,200||$67,550||$71,900|
|Low Income (60%)||$45,780||$52,320||$58,860||$65,340||$70,620||$75,840||$81,060||$86,280|
Laurel Oaks Family Apartments is managed by Walters Group Apartments.