885 Sharon Circle, High Point, NC 27260
Waiting List Forecast: Likely Long or Closed for Public Housing units, and Likely Short or None for other affordable units
Verified for 2023 by Connor Bailey, Lorena Bentley, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $785 - 1,708 per Month† | 1 - 3 Beds | 1 - 2.5 Baths | 770 - 1,251 Sq Ft |
Since this property may have HUD-funded Public Housing with subsidies that help pay tenants' rent, the property is likely to have a long waiting list. Housing authorities often open these waiting lists periodically. Important: Housing authorities don't always open housing waiting lists at a property-specific level or even allow applicants to choose at which property they can live. Many times, the housing authority will assign an applicant to a property without giving the applicant a choice.
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.
Centered near major shopping, dining and area schools, Park Terrace is in the heart of High Point. A short drive down the road takes you anywhere you want to go, and you'll have the added convenience of being right on the High Point bus line!
When you make Park Terrace your home, you can enjoy relaxing on the sundeck by the sparkling swimming pool, exercising in the fitness center, grilling outdoors in our picnic area or meeting new friends at the playground.
The perks don't stop at your doorstep: each apartment home has a fully-equipped kitchen with dishwasher and Energy Star appliances, your own balcony or patio where you can overlook the beautifully landscaped grounds, washer/dryer hook-ups (bring your own or use our laundry facility on-site), bay windows (in some apartments) and ceilings fans to provide an environment with an abundance of natural air and light, and large closets that enhance the comfort and convenience of your home.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC programonly provides subsidies to the building’s owner at construction. The LIHTC program doesn't provide direct subsidies to the residents, but the owner must set rents affordable to low-income renters in the area. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. LIHTC properties tend to have shorter waiting lists however, since Park Terrace has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. Records show this property may have been recently associated with the Public Housing program, which means it could have a new RAD Section 8 Project-Based Rental Assistance contract. LIHTC properties tend to have shorter waiting lists however, since this property may have a project-based subsidy, the waiting list may be much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, if this property has a RAD Section 8 Project-Based Rental Assistance contract, your Section 8 voucher cannot be used here. LIHTC properties were first built in the late 1980's and the LIHTC program funds the renovation of older properties. Because they tend to be newer or renovated, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you need help paying your rent and are willing to wait for a possibly longer waiting list if this is indeed a RAD property.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 770ft2 | $785† |
| Two Bedroom Two Bath (2/2) | 1002ft2 | $892† |
| Two Bedroom One Bath (2/1) | 906ft2 | $1,213† |
| Three Bedroom Two Bath (3/2) | 1130ft2 | $1,039† |
| Three Bedroom Two Half Bath (3/2.5) | 1251ft2 | $1,708† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $14,580 / year | $19,720 / year | $24,860 / year | $30,000 / year | $35,140 / year | $40,150 / year |
| 50% AMI for LIHTC Units | $24,250 / year | $27,700 / year | $31,150 / year | $34,600 / year | $37,400 / year | $40,150 / year |
| 50% AMI for PBRA Units | $24,250 / year | $27,700 / year | $31,150 / year | $34,600 / year | $37,400 / year | $40,150 / year |
| 60% AMI for LIHTC Units | $29,100 / year | $33,240 / year | $37,380 / year | $41,520 / year | $44,880 / year | $48,180 / year |
| 80% AMI for PBRA Units | $38,750 / year | $44,300 / year | $49,850 / year | $55,350 / year | $59,800 / year | $64,250 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Park Terrace have a waiting list?
Park Terrace probably has a waiting list. Since our research has shown there are some public housing units at this property, the waiting list would be for those units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Park Terrace?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
In addition to Park Terrace, how many other affordable housing properties (and units) are there in High Point?
In addition to Park Terrace, we list 40 other affordable properties in High Point. Learn about these properties here. Our data research shows that there are a total of 2654 affordable units in High Point.
When was the Park Terrace listing last updated?
Park Terrace listing on Affordable Housing Online was last updated on 03/15/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Do you have little or no income?
Be aware that some housing assistance programs have a minimum income requirement, such as Low-Income Housing Tax Credit aparments.La'Velle D Jackson says:
"I’ve had opportunities to apply to states and cities that I never thought of before on Affordable Housing Online. Thank you for your help!"