4000 Saint James Church Rd, Raleigh, NC 27604
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | 657 - 877 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.
Offers One and Two bedroom apartment homes for individuals or households 55 or older. Located just minutes away from shopping, restaurants, and medical services.
Because Terrace Spring 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. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 657ft2 | Call for Price† |
| Two bedroom (2/1) | 877ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year |
| 50% AMI for PBRA Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year |
| 60% AMI for LIHTC Units | $47,640 / year | $54,420 / year | $61,200 / year | $67,980 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Terrace Spring have a waiting list?
Terrace Spring 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 Terrace Spring?
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.
In addition to Terrace Spring, how many other affordable housing properties (and units) are there in Raleigh?
In addition to Terrace Spring, we list 141 other affordable properties in Raleigh. Learn about these properties here. Our data research shows that there are a total of 8821 affordable units in Raleigh.
When was the Terrace Spring listing last updated?
Terrace Spring listing on Affordable Housing Online was last updated on 01/03/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
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