Located in Lexington, North Carolina, Hilltop Terrace Apartments is a multifamily rental community with 63 apartments. Apartments are rented to low- and very low-income households.
In 2012, Hilltop Terrace underwent interior and exterior renovations according to federal standards for historic rehabilitation that improved the functionality, efficiency, and aesthetic of the property. Work included all-new kitchen cabinets, appliances, flooring, windows, heating and cooling systems, as well as upgraded bathrooms.
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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 Lexington but actual income limits may differ for units at Hilltop Terrace Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$20,800||$23,750||$26,700||$29,650||$32,050||$34,400||$36,800||$39,150|
|Low Income (60%)||$24,960||$28,500||$32,040||$35,580||$38,460||$41,280||$44,160||$46,980|
Hilltop Terrace Apartments is managed by Community Housing Partners.