St Marks Terrace

110 Chapel St, Penn Yan, New York 14527

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St Marks Terrace Details

  • 105 units.
  • Project-Based Rental Assistance
  • Senior (62+)
  • Accessible Units
  • Supportive Housing for the Elderly

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

Penn Yan HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Penn Yan but actual income limits may differ for units at St Marks Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,550 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% $24,200 $27,650 $31,100 $34,550 $37,350 $40,100 $42,850 $45,650
80% $38,750 $44,250 $49,800 $55,300 $59,750 $64,150 $68,600 $73,000

These general income qualifications for Penn Yan, New York should only be used as a basic guide. To find out if you qualify, contact the community directly.

You can usually make up to 80% of the Area Median Income (AMI) to be eligible for a HUD-Assisted Housing unit, but income qualification tiers for this community may be different due to various policies.

St Marks Terrace receives rental subsidies through HUD-Assisted Housing for some or all of its apartments. Some units may be designated as market rate housing. Market rate units would have no subsidies or income restrictions.

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