About This Property
Park Terrace Apts offers 72 units of affordable housing in Brooklyn, including 71 low-income units designed to serve families and disabled residents. The property contains 18 one-bedroom, 35 two-bedroom, and 18 three-bedroom apartments and has been in service since 1996. The development utilizes 9% Low-Income Housing Tax Credits to maintain affordability.
Property Details
Fair Market Rent - Kings County, NY
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $2,386 |
| 1 Bedroom | $2,451 |
| 2 Bedroom | $2,752 |
| 3 Bedroom | $3,434 |
| 4 Bedroom | $3,700 |
Income Limits - Kings County, NY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $25,100
- Very Low (50%)
- $41,800
- Low (80%)
- $66,850
- Extremely Low (30%)
- $28,650
- Very Low (50%)
- $47,750
- Low (80%)
- $76,400
- Extremely Low (30%)
- $32,250
- Very Low (50%)
- $53,700
- Low (80%)
- $85,950
- Extremely Low (30%)
- $35,800
- Very Low (50%)
- $59,650
- Low (80%)
- $95,450
- Extremely Low (30%)
- $38,700
- Very Low (50%)
- $64,450
- Low (80%)
- $103,100
- Extremely Low (30%)
- $41,550
- Very Low (50%)
- $69,200
- Low (80%)
- $110,750
- Extremely Low (30%)
- $44,400
- Very Low (50%)
- $74,000
- Low (80%)
- $118,400
- Extremely Low (30%)
- $47,300
- Very Low (50%)
- $78,750
- Low (80%)
- $126,000
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $25,100 | $41,800 | $66,850 |
| 2 Persons | $28,650 | $47,750 | $76,400 |
| 3 Persons | $32,250 | $53,700 | $85,950 |
| 4 Persons | $35,800 | $59,650 | $95,450 |
| 5 Persons | $38,700 | $64,450 | $103,100 |
| 6 Persons | $41,550 | $69,200 | $110,750 |
| 7 Persons | $44,400 | $74,000 | $118,400 |
| 8 Persons | $47,300 | $78,750 | $126,000 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Brooklyn, NY?+
The Fair Market Rent (FMR) for Kings County, NY is: $2386 (Studio), $2451 (1BR), $2752 (2BR), $3434 (3BR), $3700 (4BR). Actual rent at subsidized properties like Park Terrace Apts is typically 30% of household income or less.
What size apartments are available at Park Terrace Apts?+
Park Terrace Apts offers the following unit types: 18 One-Bedroom, 35 Two-Bedroom, 18 Three-Bedroom units, for a total of 72 units.
How do I apply for housing at Park Terrace Apts?+
Park 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.
Who manages Park Terrace Apts?+
Park Terrace Apts is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Park Terrace Apts?+
Park Terrace Apts primarily serves families, persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What are the income limits for affordable housing in Kings County, NY?+
For a 4-person household in Kings County, NY, the income limits are: Extremely Low Income (30% AMI): $35,800, Very Low Income (50% AMI): $59,650, Low Income (80% AMI): $95,450. These limits are set by HUD and updated annually.
What is the price range for apartments in Brooklyn, NY?+
Based on Fair Market Rent for Kings County, the estimated price range is: 1-bedroom: $2451, 2-bedroom: $2752, 3-bedroom: $3434. Actual rent at Park Terrace Apts may be lower for income-eligible households.
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Park Terrace Apts
45 Malta Associates, Llc
Brooklyn, NY
48 UnitsWatkins Avenue Cluster
Brooklyn, NY
4 UnitsNew Life Homes
Brooklyn, NY
55 UnitsWatkins Avenue Cluster
Brooklyn, NY
4 UnitsPlaza Residences I
Brooklyn, NY
66 Units
Pennsylvania Wortman Aves
Brooklyn, NY
147 Units