900 Cannery Ct, Farmington, NM 87401
Waiting List Forecast: Likely Short or None
Verified for 2021 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $833 - 1,125 per Month† | 2 - 3 Beds | 2 Baths | 1,020 - 1,265 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Their community is operated under the Affordable Housing Program under Section 42 of the Internal Revenue Code. This program is designed to facilitate the housing needs of moderate-, middle- or low-income households. Residency at La Terraza Apartments requires that applicants meet certain qualifying standards established by the government and the Managing Agent.
Enjoy the breathtaking views and landscape in and around Farmington, New Mexico at La Terraza Apartments. Their community is conveniently located near Highway 64 and is just minutes from downtown Farmington. At La Terraza, you are only minutes away from everything you need and love to enjoy, including schools, shopping, dining and convenient highways.
While at La Terraza Apartments you can choose from either their luxurious two-bedroom, 2-bath apartment home or a three-bedroom, 2-bath apartment. Their units include air conditioning, ample parking, additional storage, washer/dryer hook-ups, efficient dishwasher, convenient garbage disposal, a spacious breakfast bar and so much more!
Their community offers residents several smart amenities including a fun playground area, refreshing swimming pool, on-call maintenance service, a well-located laundry care center and several others to make your life at La Terraza Apartments carefree. View their photo gallery for a glimpse of what La Terraza Apartments has in store for you! Come visit them today!
Because La Terraza Apartments 2009 (Farmington) participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. Depending on the number of HOME-designated units and the type of LIHTC program, additional units may have even lower household income requirements and corresponding lower rent caps.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 2 Bedroom (2/2) | 1020ft2 | $833 $1,025† |
| 3 Bedroom (3/2) | 1265ft2 | $965 $1,125† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $23,500 / year | $26,850 / year | $30,200 / year | $33,550 / year | $36,250 / year | $38,950 / year |
| 50% AMI for PBRA Units | $23,500 / year | $26,850 / year | $30,200 / year | $33,550 / year | $36,250 / year | $38,950 / year |
| 60% AMI for LIHTC Units | $28,200 / year | $32,220 / year | $36,240 / year | $40,260 / year | $43,500 / year | $46,740 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does La Terraza Apartments 2009 (Farmington) have a waiting list?
La Terraza Apartments 2009 (Farmington) probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at La Terraza Apartments 2009 (Farmington)?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges La Terraza Apartments 2009 (Farmington)?
La Terraza Apartments 2009 (Farmington) is managed by Kay-Kay Realty Corp. headquartered in Scottsdale, AZ.
In addition to La Terraza Apartments 2009 (Farmington), how many other affordable housing properties (and units) are there in Farmington?
In addition to La Terraza Apartments 2009 (Farmington), we list 11 other affordable properties in Farmington. Learn about these properties here. Our data research shows that there are a total of 344 affordable units in Farmington.
1600 Cliffside Dr, Farmington, New Mexico 87401
2500 W Apache St, Farmington, New Mexico 87401
503 Glade Pl Unit 503 Glade Place - 2, Farmington, New Mexico 87401
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Izzie Tiffany says:
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