Elm Terrace Apartments

206 E Elm Ave, Duncan, Oklahoma 73533

Contact Elm Terrace Apartments

Welcome to Elm Terrace Apartments! Enjoy city living and the comfort of feeling at home in this community.

Our spacious 1, 2, 3 and 4 bedroom apartment homes are thoughtfully designed with your comfort and convenience in mind. In addition to our great floor plans and maintenance free living, our community has the amenities you want and deserve. For your pleasure, our community features on-site laundry, library, and computer lab. Enjoy the benefits of community living with the added perks of living minutes away from Main Street downtown. We are nestled on the outskirts of town but still ideally situated to give you easy access to the best of what the area has to offer. We are located a short distance from Douglas Park splash pad, restaurants, pharmacy, and grocery stores.

Rents are based on income and calculated exclusively to 30% of the household's combined adjusted income. A waiting list may apply. Full financial disclosure is required. Maximum income guidelines apply.

Contact us today to make an appointment to see for yourself why Elm Terrace Apartments should be your new home. We look forward to hearing from you!

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	546	Income Based
2 Bedroom (2/1)	720	Income Based
3 Bedroom (3/1.5)	846	Income Based
4 Bedroom (4/2)	943	Income Based

Eligibility for Elm 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 Duncan but actual income limits may differ for units at Elm Terrace Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30%	$14,950	$19,720	$24,860	$30,000	$35,140	$40,280	$44,050	$46,900
50%	$24,850	$28,400	$31,950	$35,500	$38,350	$41,200	$44,050	$46,900
80%	$39,800	$45,450	$51,150	$56,800	$61,350	$65,900	$70,450	$75,000

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 Duncan but actual income limits may differ for units at Elm Terrace Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$24,850	$28,400	$31,950	$35,500	$38,350	$41,200	$44,050	$46,900
Low Income (60%)	$29,820	$34,080	$38,340	$42,600	$46,020	$49,440	$52,860	$56,280

Elm Terrace Apartments Details

88 one, two, three and four bedroom units.
Water and Sewer utilities included in rent
Heat utility included in rent
Low-Income Housing Tax Credit (LIHTC)
Section 8 Project-Based Rental Assistance (PBRA)
Section 221 (d) (3)
Section 236

Property Amenities

Playground
Computer Lab
Library
24hr Emergency Maintenance
Convenient Location
Heat Included
On-Site Laundry

Unit Amenities

All Appliances included
Carpet
Sewer Included
Water Included
Central Heat & Air
Stove
Electric Range
Laminate Flooring
Frost-Free Refrigerator

Office Hours

Day	Hours
Monday	8:00am-5:00pm
Tuesday	8:00am-5:00pm
Wednesday	8:00am-5:00pm
Thursday	8:00am-5:00pm
Friday	8:00am-5:00pm

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.

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.

Section 236

Apartment communities that participate in the Section 236 program are required to ensure that their units are only available to families with incomes at or below 80% of the area median income. Rents at participating communities must be approved by HUD.