Annunciation Terrace Akron

About This Building

Affordable Housing Option at Annunciation Terrace Akron Overview Annunciation Terrace Akron is a Low-Income Housing Tax Credit apartment situated in Akron, OH. Supported by the LIHTC program, these rental apartments offer affordable housing options to individuals who meet the program's rent and income restrictions. Incentives for Affordable Housing The LIHTC program provides incentives to builders and developers with the aim of offering affordable housing options to low-income individuals. The maximum rent charged for these apartments is determined based on the Area Median Income (AMI). However, it's important to note that the AMI may still make these apartments unaffordable for some low-income individuals. Rental Rates To determine if Annunciation Terrace Akron is affordable for you, it's recommended to check the current rental rates. Keep in mind that availability might be limited, as most apartments nowadays have waiting lists. Low Income Apartments This housing complex features 50 low-income apartments. As demand is high, it's advised to contact them directly using the provided number to inquire about availability and eligibility for application. Applying for LIHTC Units When applying for residency, it is essential to include and verify the income from all adults who are expected to live in the apartment. For more details on the application process, contact the provided number. Note: Understanding the LIHTC Program Familiarizing yourself with the Low-Income Housing Tax Credit program can provide insight into the benefits and requirements of renting LIHTC units.