Galena Park Terrace Apartments

5533 N Galena Rd, Peoria, Illinois 61616

Contact Galena Park Terrace Apartments

Located in the scenic Illinois River Valley just minutes from downtown Peoria, Galena Park Terrace provides modern features and amenities in a quiet hillside setting. At Galena Park Terrace Apartments, we take pride in our ability to offer a wide variety of amenities at a very affordable rate.

Eligibility for Galena Park Terrace Apartments

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Peoria but actual income limits may differ for units at Galena Park Terrace Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30%	$19,000	$21,700	$24,860	$30,000	$35,140	$40,280	$45,420	$50,560
50%	$31,650	$36,150	$40,650	$45,150	$48,800	$52,400	$56,000	$59,600
80%	$50,600	$57,800	$65,050	$72,250	$78,050	$83,850	$89,600	$95,400

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Peoria but actual income limits may differ for units at Galena Park Terrace Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$31,650	$36,150	$40,650	$45,150	$48,800	$52,400	$56,000	$59,600

Galena Park Terrace Apartments Details

151 bedroom units.
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

Community Room
On-Site Manager
Landscaping
On-Site Maintenance
Laundry Facility

Unit Amenities

Air Conditioning
Refrigerator

Section 8 Project-Based Rental Assistance (PBRA)

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.