Lantern Lane Apartments

129 Lantern Lane, Raeford, North Carolina 28376

Lantern Lane is located in Raeford, North Carolina. This Low Income Housing project has been in service since 2010 and has a total of 48 low income units. 20 of these units are set aside with rent lower than the rent/income ceiling

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) - Income Based
Two Bedroom (2/1) - Income Based

Lantern Lane Apartments Details

  • 48 one and two bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 515 Rural Rental Housing

Office Hours

Day Hours
Monday 8:30am-5:00pm
Tuesday 8:30am-5:00pm
Thursday 8:30am-5:00pm

Low-Income Housing Tax Credit (LIHTC)

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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Raeford Low-Income Housing Tax Credit Income Limits

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 Raeford but actual income limits may differ for units at Lantern Lane Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $20,500 $23,400 $26,350 $29,250 $31,600 $33,950 $36,300 $38,650
Low Income (60%) $24,600 $28,080 $31,620 $35,100 $37,920 $40,740 $43,560 $46,380

Lantern Lane Apartments is managed by The Pendergraph Companies, LLC.

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