About This Property
Elaine Terrace Apts comprises 15 low-income units in Elaine, AR, with a unit mix of three 1-bedroom and twelve 2-bedroom apartments. The property has been in service since 1996 and operates with 4% Low-Income Housing Tax Credit funding. The community is managed by on-site staff.
Property Details
Fair Market Rent - Phillips County, AR
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $604 |
| 1 Bedroom | $622 |
| 2 Bedroom | $814 |
| 3 Bedroom | $1,147 |
| 4 Bedroom | $1,381 |
Income Limits - Phillips County, AR
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $18,950
- Low (80%)
- $30,350
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $21,650
- Low (80%)
- $34,650
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $24,350
- Low (80%)
- $39,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $27,050
- Low (80%)
- $43,300
- Extremely Low (30%)
- $29,250
- Very Low (50%)
- $29,250
- Low (80%)
- $46,800
- Extremely Low (30%)
- $31,400
- Very Low (50%)
- $31,400
- Low (80%)
- $50,250
- Extremely Low (30%)
- $33,550
- Very Low (50%)
- $33,550
- Low (80%)
- $53,700
- Extremely Low (30%)
- $35,750
- Very Low (50%)
- $35,750
- Low (80%)
- $57,200
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $18,950 | $30,350 |
| 2 Persons | $17,420 | $21,650 | $34,650 |
| 3 Persons | $21,960 | $24,350 | $39,000 |
| 4 Persons | $26,500 | $27,050 | $43,300 |
| 5 Persons | $29,250 | $29,250 | $46,800 |
| 6 Persons | $31,400 | $31,400 | $50,250 |
| 7 Persons | $33,550 | $33,550 | $53,700 |
| 8 Persons | $35,750 | $35,750 | $57,200 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Elaine, AR?+
The Fair Market Rent (FMR) for Phillips County, AR is: $604 (Studio), $622 (1BR), $814 (2BR), $1147 (3BR), $1381 (4BR). Actual rent at subsidized properties like Elaine Terrace Apts is typically 30% of household income or less.
What size apartments are available at Elaine Terrace Apts?+
Elaine Terrace Apts offers the following unit types: 3 One-Bedroom, 12 Two-Bedroom units, for a total of 15 units.
Who manages Elaine Terrace Apts?+
Elaine Terrace Apts is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Phillips County, AR?+
For a 4-person household in Phillips County, AR, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $27,050, Low Income (80% AMI): $43,300. These limits are set by HUD and updated annually.
How do I apply for housing at Elaine Terrace Apts?+
Elaine Terrace Apts is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What is the price range for apartments in Elaine, AR?+
Based on Fair Market Rent for Phillips County, the estimated price range is: 1-bedroom: $622, 2-bedroom: $814. Actual rent at Elaine Terrace Apts may be lower for income-eligible households.