About This Property
Craven Terrace provides 131 low-income units in New Bern, NC, with a mix of one-, two-, three-, and four-bedroom floor plans serving families. The property has been in service since 2016 and was financed through tax-exempt bonds. The unit mix includes 52 one-bedroom, 44 two-bedroom, 29 three-bedroom, and 6 four-bedroom units.
Waitlist Information
Waitlist managed by Twin Rivers Opportunities, Inc.
Residency preferences are for those living in Craven, Jones, or Pamlico Counties. Applications may be purged if an applicant declines two invitations.
Residency preferences are for those living in Craven, Jones, or Pamlico Counties; applicants not domiciled in these counties must lease a unit within those counties for at least one year before portability. Eligibility requires low income, US Citizen or Documented Alien Certification, and being 18 years or older or an Emancipated Head of Household. Incomplete applications will not be processed, and applications may be purged if an applicant declines two invitations. The typical waiting period is between 12 and 36 months, and 75% of vouchers must go to applicants whose income does not exceed 30% of the area median income.
Waitlist data provided by section8waitlist.org
Updated November 4, 2026
Property Details
Fair Market Rent - Craven County, NC
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $928 |
| 1 Bedroom | $935 |
| 2 Bedroom | $1,228 |
| 3 Bedroom | $1,660 |
| 4 Bedroom | $2,084 |
Income Limits - Craven County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,450
- Very Low (50%)
- $22,350
- Low (80%)
- $35,750
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,550
- Low (80%)
- $40,850
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,750
- Low (80%)
- $45,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,900
- Low (80%)
- $51,050
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,500
- Low (80%)
- $55,150
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $37,050
- Low (80%)
- $59,250
- Extremely Low (30%)
- $39,600
- Very Low (50%)
- $39,600
- Low (80%)
- $63,350
- Extremely Low (30%)
- $42,150
- Very Low (50%)
- $42,150
- Low (80%)
- $67,400
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,450 | $22,350 | $35,750 |
| 2 Persons | $17,420 | $25,550 | $40,850 |
| 3 Persons | $21,960 | $28,750 | $45,950 |
| 4 Persons | $26,500 | $31,900 | $51,050 |
| 5 Persons | $31,040 | $34,500 | $55,150 |
| 6 Persons | $35,580 | $37,050 | $59,250 |
| 7 Persons | $39,600 | $39,600 | $63,350 |
| 8 Persons | $42,150 | $42,150 | $67,400 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in New Bern, NC?+
The Fair Market Rent (FMR) for Craven County, NC is: $928 (Studio), $935 (1BR), $1228 (2BR), $1660 (3BR), $2084 (4BR). Actual rent at subsidized properties like Craven Terrace is typically 30% of household income or less.
What size apartments are available at Craven Terrace?+
Craven Terrace offers the following unit types: 52 One-Bedroom, 44 Two-Bedroom, 29 Three-Bedroom, 6 Four-Bedroom units, for a total of 131 units.
Is there a waitlist for Craven Terrace?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Open. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Who manages Craven Terrace?+
Craven Terrace is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Craven County, NC?+
For a 4-person household in Craven County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,900, Low Income (80% AMI): $51,050. These limits are set by HUD and updated annually.
How do I apply for housing at Craven Terrace?+
Craven Terrace 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 is eligible to live at Craven Terrace?+
Craven Terrace primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in New Bern, NC?+
Based on Fair Market Rent for Craven County, the estimated price range is: 1-bedroom: $935, 2-bedroom: $1228, 3-bedroom: $1660. Actual rent at Craven Terrace may be lower for income-eligible households.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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