About This Property
The Reserve is an 80-unit affordable housing community in Albemarle, NC that serves families through a mix of one, two, and three-bedroom units. The property contains 12 one-bedroom units, 48 two-bedroom units, and 20 three-bedroom units, all designated as low-income housing. Financing includes HOME funding and 9% Low-Income Housing Tax Credit allocation.
Waitlist Information
Waitlist managed by City of Albemarle Department of Public Housing
The Public Housing waiting list last accepted applications from March 4, 2024, until April 1, 2024. When open, applications were available online or in-person. Preferences included full-time employment, part-time student/employment, residency in Stanly County, and transitional housing.
The HCV waiting list is closed. The last accepted applications were from October 17, 2022, until October 18, 2022. Previous preference for applicants who live and/or work in Stanly County.
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Stanly 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 | $627 |
| 1 Bedroom | $704 |
| 2 Bedroom | $925 |
| 3 Bedroom | $1,244 |
| 4 Bedroom | $1,552 |
Income Limits - Stanly County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,100
- Very Low (50%)
- $21,800
- Low (80%)
- $34,850
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $24,900
- Low (80%)
- $39,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,000
- Low (80%)
- $44,800
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,100
- Low (80%)
- $49,750
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $33,600
- Low (80%)
- $53,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,100
- Low (80%)
- $57,750
- Extremely Low (30%)
- $38,600
- Very Low (50%)
- $38,600
- Low (80%)
- $61,700
- Extremely Low (30%)
- $41,100
- Very Low (50%)
- $41,100
- Low (80%)
- $65,700
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,100 | $21,800 | $34,850 |
| 2 Persons | $17,420 | $24,900 | $39,800 |
| 3 Persons | $21,960 | $28,000 | $44,800 |
| 4 Persons | $26,500 | $31,100 | $49,750 |
| 5 Persons | $31,040 | $33,600 | $53,750 |
| 6 Persons | $35,580 | $36,100 | $57,750 |
| 7 Persons | $38,600 | $38,600 | $61,700 |
| 8 Persons | $41,100 | $41,100 | $65,700 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Albemarle, NC?+
The Fair Market Rent (FMR) for Stanly County, NC is: $627 (Studio), $704 (1BR), $925 (2BR), $1244 (3BR), $1552 (4BR). Actual rent at subsidized properties like The Reserve is typically 30% of household income or less.
What size apartments are available at The Reserve?+
The Reserve offers the following unit types: 12 One-Bedroom, 48 Two-Bedroom, 20 Three-Bedroom units, for a total of 80 units.
How do I apply for housing at The Reserve?+
The Reserve 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 The Reserve?+
The Reserve primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages The Reserve?+
The Reserve is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Stanly County, NC?+
For a 4-person household in Stanly County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,100, Low Income (80% AMI): $49,750. These limits are set by HUD and updated annually.
What is the price range for apartments in Albemarle, NC?+
Based on Fair Market Rent for Stanly County, the estimated price range is: 1-bedroom: $704, 2-bedroom: $925, 3-bedroom: $1244. Actual rent at The Reserve may be lower for income-eligible households.
Is there a waitlist for The Reserve?+
Public Housing waitlist is currently Closed. 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.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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