About This Property
Cooper Terrace comprises 56 low-income residential units in Elkin, NC, serving families with a mix of one-, two-, and three-bedroom floor plans. The property was placed in service in 2015 and operates with 9% Low-Income Housing Tax Credit financing. Eight one-bedroom, 33 two-bedroom, and 15 three-bedroom units provide housing options across various family sizes.
Property Details
Fair Market Rent - Surry 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 | $672 |
| 1 Bedroom | $677 |
| 2 Bedroom | $856 |
| 3 Bedroom | $1,045 |
| 4 Bedroom | $1,368 |
Income Limits - Surry County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,100
- Very Low (50%)
- $21,850
- Low (80%)
- $34,950
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,000
- Low (80%)
- $39,950
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,100
- Low (80%)
- $44,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,200
- Low (80%)
- $49,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $33,700
- Low (80%)
- $53,900
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,200
- Low (80%)
- $57,900
- Extremely Low (30%)
- $38,700
- Very Low (50%)
- $38,700
- Low (80%)
- $61,900
- Extremely Low (30%)
- $41,200
- Very Low (50%)
- $41,200
- Low (80%)
- $65,900
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,100 | $21,850 | $34,950 |
| 2 Persons | $17,420 | $25,000 | $39,950 |
| 3 Persons | $21,960 | $28,100 | $44,950 |
| 4 Persons | $26,500 | $31,200 | $49,900 |
| 5 Persons | $31,040 | $33,700 | $53,900 |
| 6 Persons | $35,580 | $36,200 | $57,900 |
| 7 Persons | $38,700 | $38,700 | $61,900 |
| 8 Persons | $41,200 | $41,200 | $65,900 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Elkin, NC?+
The Fair Market Rent (FMR) for Surry County, NC is: $672 (Studio), $677 (1BR), $856 (2BR), $1045 (3BR), $1368 (4BR). Actual rent at subsidized properties like Cooper Terrace is typically 30% of household income or less.
What size apartments are available at Cooper Terrace?+
Cooper Terrace offers the following unit types: 8 One-Bedroom, 33 Two-Bedroom, 15 Three-Bedroom units, for a total of 56 units.
What is the price range for apartments in Elkin, NC?+
Based on Fair Market Rent for Surry County, the estimated price range is: 1-bedroom: $677, 2-bedroom: $856, 3-bedroom: $1045. Actual rent at Cooper Terrace may be lower for income-eligible households.
What are the income limits for affordable housing in Surry County, NC?+
For a 4-person household in Surry County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,200, Low Income (80% AMI): $49,900. These limits are set by HUD and updated annually.
How do I apply for housing at Cooper Terrace?+
Cooper 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 manages Cooper Terrace?+
Cooper Terrace is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Cooper Terrace?+
Cooper Terrace primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Contact Information
Walk Score
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Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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