About This Property
Diamond Rock Terrace Phase II is a 36-unit affordable housing community in Troy, NY that serves elderly residents. All units are two-bedroom apartments designated for low-income households and funded through 9% Low-Income Housing Tax Credits. The property has been in service since 2002.
Waitlist Information
Waitlist managed by Troy Housing Authority
Applications can be submitted online through the THA PORTAL, by printing and emailing, or in-person at any THA location. Households must be at or below the Very Low Income Limit (50% of Area Median Income).
The Section 8 waitlist is currently closed to new applications.
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Rensselaer 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 | $1,011 |
| 1 Bedroom | $1,131 |
| 2 Bedroom | $1,374 |
| 3 Bedroom | $1,661 |
| 4 Bedroom | $1,830 |
Income Limits - Rensselaer County, NY
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $20,100
- Very Low (50%)
- $33,500
- Low (80%)
- $53,550
- Extremely Low (30%)
- $23,000
- Very Low (50%)
- $38,250
- Low (80%)
- $61,200
- Extremely Low (30%)
- $25,850
- Very Low (50%)
- $43,050
- Low (80%)
- $68,850
- Extremely Low (30%)
- $28,700
- Very Low (50%)
- $47,800
- Low (80%)
- $76,500
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $51,650
- Low (80%)
- $82,650
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $55,450
- Low (80%)
- $88,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $59,300
- Low (80%)
- $94,900
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $63,100
- Low (80%)
- $101,000
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $20,100 | $33,500 | $53,550 |
| 2 Persons | $23,000 | $38,250 | $61,200 |
| 3 Persons | $25,850 | $43,050 | $68,850 |
| 4 Persons | $28,700 | $47,800 | $76,500 |
| 5 Persons | $31,040 | $51,650 | $82,650 |
| 6 Persons | $35,580 | $55,450 | $88,750 |
| 7 Persons | $40,120 | $59,300 | $94,900 |
| 8 Persons | $44,660 | $63,100 | $101,000 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Troy, NY?+
The Fair Market Rent (FMR) for Rensselaer County, NY is: $1011 (Studio), $1131 (1BR), $1374 (2BR), $1661 (3BR), $1830 (4BR). Actual rent at subsidized properties like Diamond Rock Terrace Phase Ii (Federal) is typically 30% of household income or less.
What size apartments are available at Diamond Rock Terrace Phase Ii (Federal)?+
Diamond Rock Terrace Phase Ii (Federal) offers the following unit types: 36 Two-Bedroom units, for a total of 36 units.
What are the income limits for affordable housing in Rensselaer County, NY?+
For a 4-person household in Rensselaer County, NY, the income limits are: Extremely Low Income (30% AMI): $28,700, Very Low Income (50% AMI): $47,800, Low Income (80% AMI): $76,500. These limits are set by HUD and updated annually.
Who manages Diamond Rock Terrace Phase Ii (Federal)?+
Diamond Rock Terrace Phase Ii (Federal) is managed by . You can reach them at .
Who is eligible to live at Diamond Rock Terrace Phase Ii (Federal)?+
Diamond Rock Terrace Phase Ii (Federal) primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Is there a waitlist for Diamond Rock Terrace Phase Ii (Federal)?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What is the price range for apartments in Troy, NY?+
Based on Fair Market Rent for Rensselaer County, the estimated price range is: 2-bedroom: $1374. Actual rent at Diamond Rock Terrace Phase Ii (Federal) may be lower for income-eligible households.
How do I apply for housing at Diamond Rock Terrace Phase Ii (Federal)?+
Diamond Rock Terrace Phase Ii (Federal) is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , 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.
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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