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More than one housing program
This property uses more than one affordable housing program. That can change who qualifies and how rent is set, so read the labels below and call the office to confirm the unit you want.
Programs on this listing include LIHTC tax credit · 60% AMGI AMI, Section 8 PBV.
Best fit
People with disabilities
Rent
Est. $2007 - $5478/mo
Based on local HUD estimates
Floor plans
1 Bed • 2 Bed
Total Units
50
Year Built / Opened
2024
Waitlist expected. Click Check Eligibility below to generate your ready-to-print application materials so you're first in line.
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How Walk Score worksNearby places
Grocery store
California Fresh Market 2, about 0.13 miles away
School
Grover Heights Elementary, about 0.44 miles away
What this means for you
This property includes LIHTC tax credit · 60% AMGI AMI, Section 8 PBV. Rent rules can change by unit, so ask the office which program applies to the apartment you want.
LIHTC: These are income-based apartments with rent limits tied to the local Area Median Income (AMI) — not market-rate rent. The local 4-person AMI for the 93449 zip code is $160,625 (2024 data). Rent limits are set from that number. If this property also has rental assistance, some tenants may pay about 30% of adjusted income.
To qualify for these apartments at PISMO TERRACE, your total household income must fit the local Area Median Income (AMI) limits for Pismo Beach and the 93449 zip code. The exact rules can vary by program and by household size.
This property includes LIHTC tax credit · 60% AMGI AMI, Section 8 PBV. Check the program labels on this page and confirm the exact unit rules with management before you apply.
Local Median (1-Person)
$112,437
Local Median (4-Person)
$160,625
Based on the latest 2024 census data, the figures above show the local median earnings for this area. Management will generally require your household income to be at or below 50% of these median figures.
HUD's Small Area Fair Market Rent, or SAFMR, is a ZIP-code-based fair market rent estimate. It can help you compare what different bedroom sizes may cost in this area.
| Bedroom | 90% | SAFMR | 110% |
|---|---|---|---|
| Studio | $2,007 | $2,230 | $2,453 |
| 1 BR | $2,223 | $2,470 | $2,717 |
| 2 BR | $2,916 | $3,240 | $3,564 |
| 3 BR | $3,915 | $4,350 | $4,785 |
| 4 BR | $4,482 | $4,980 | $5,478 |
These values are only a comparison tool. They do not replace the property's actual rent, and they do not guarantee what you will pay unless your program uses SAFMR directly.
Not explicitly confirmed. Call ahead to verify elevator availability and doorway widths before applying.
Management Company
The Duncan Group dba Peoples Self Help Housing
Property Owner
Pismo Terrace LP
Profit Motivated
HUD Property ID
800257836
Pismo terrace is a Low Income Housing Tax Credit (LIHTC) apartment community in Pismo Beach, California. LIHTC properties — also called Section 42 housing or tax credit apartments — are income-restricted rentals developed with federal tax credits administered by state Housing Finance Agencies (HFAs). Qualifying residents pay rent based on a percentage of the Area Median Income (AMI) for Pismo Beach. Based on 2024 data, the local AMI for the 93449 zip code is $112,437 for a single person and $160,625 for a 4-person household. These figures make Pismo Beach tax credit apartments among the most affordable rentals available without a Section 8 voucher.
To qualify, your total household income must fall at or below the income limit set for this property — currently 60% AMGI of AMI. That works out to approximately $96,375/yr for a 4-person household in the 93449 area. Unlike public housing, LIHTC income-restricted apartments are privately managed and require you to apply directly to the property. Rent is fixed at a discounted rate tied to AMI — not to your specific income — so your monthly payment stays predictable.
By law, LIHTC properties must remain rent-restricted for a minimum of 30 years. Pismo terrace was placed in service around 2024, keeping rents income-restricted at least through ~2079. This property has an extended 55-year affordability commitment — providing long-term housing stability well beyond the minimum.
You must be of qualifying age. Your income must fall within HUD's Area Median Income (AMI) limits for Pismo Beach. Based on the 93449 zip code AMI (2024), this property's 50% income limit is approximately $56,219/yr for 1 person / $80,313/yr for a 4-person household.
This listing shows historically available units. Ask directly if a unit is open today.
If you use a wheelchair or walker, confirm elevator access and doorway widths before submitting a paid application.
Did you know?LIHTC properties have specific maximum rent limits based on your income and the local Area Median Income (AMI). Read the full guide
Income limits are calculated against the Area Median Income (AMI) for the 93449 zip code. Based on recent Census data, the local median income is $112,437 for a single person, and $160,625 for a four-person household. Your specific income cap depends on the exact subsidy program rules applied by management.
To view how these median figures translate to specific income caps (e.g., 30%, 50%, or 60% AMI limits) for all household sizes, check out the AMI Calculator .
Our eligibility tool automatically cross-references your household size and gross income with the local AMI database for this property to determine your fit.
Rent-Restricted Units
49 of 50 total
income-restricted tax credit apartments
Rental Assistance
Both Federal and State
Qualifying tenants may pay ~30% of income
Rent-Restricted Until
~2079
Extended commitment: 55-year affordability period
Income Limit
60% AMGI
Your household income must be at or below this % of Area Median Income — roughly $96,375/yr for a 4-person household in 93449 (2024 data)
Designated For
Persons with Disabilities · Formerly Homeless · ADA and Accessible Units pursuant to CBC Chapter 11B, Transition age youth
May have preference policies — confirm with management
Additional Financing Sources
For 93449, the reported fair market rent amounts are Studio $2,230 ($2,007 / $2,453); 1 BR $2,470 ($2,223 / $2,717); 2 BR $3,240 ($2,916 / $3,564); 3 BR $4,350 ($3,915 / $4,785); 4 BR $4,980 ($4,482 / $5,478). These figures are reference points used in housing assistance programs and voucher calculations, but they do not guarantee your lease rent.
| Bedroom | 90% Standard | SAFMR | 110% Standard |
|---|---|---|---|
| Studio | $2,007 | $2,230 | $2,453 |
| 1 BR | $2,223 | $2,470 | $2,717 |
| 2 BR | $2,916 | $3,240 | $3,564 |
| 3 BR | $3,915 | $4,350 | $4,785 |
| 4 BR | $4,482 | $4,980 | $5,478 |
The 90%, 100%, and 110% columns show the range around the base SAFMR value for each reported bedroom size. If you are using a voucher or other subsidy, ask management which standard they use for your unit size.
California Fresh Market 2 is about 0.13 miles away from Pismo terrace.
Grover Heights Elementary is about 0.44 miles away from Pismo terrace.
This record reports: 1 Bed • 2 Bed. Availability can change rapidly, so ask management which layouts are currently open and whether any accessible units are available.
Use the eligibility checker to see the next step for this listing. Contact details are not shown here, but you can start the process and get your application path from the property page.
We'll ask a few basic questions and then show the next step.
Pismo terrace is a Low Income Housing Tax Credit (LIHTC) property. HFA records indicate the income ceiling is set at 60% AMGI. This means your household income must be at or below that percentage of the Area Median Income (AMI) for pismo beach. Based on 2024 Census data, the local median income for the 93449 zip code is $112,437 for a single person and $160,625 for a 4-person household. At the 60% AMGI limit, the approximate income threshold is $67,462/yr for a 1-person household / $96,375/yr for a 4-person household. Management will verify income during the application process.
To view the specific income caps (e.g. 30%, 50%, or 60% AMI limits) for all household sizes, check out the AMI Calculator .
Our eligibility tool automatically cross-references your household size and gross income with the local AMI database for this property to determine your fit.
This property has an extended affordability commitment beyond the standard LIHTC 30-year minimum — the record shows 55 years of affordability, keeping rents income-restricted until approximately 2079. This is a legally binding commitment, providing greater long-term housing stability for residents.
Yes. HFA records show this property has both federal and state project-based rental assistance. This means qualifying tenants may pay as little as 30% of their adjusted monthly income toward rent, with the assistance contract covering the remainder. Confirm with management which units carry the rental assistance and whether any are currently available.
In addition to the federal Low Income Housing Tax Credit, this property was also financed with: non-profit sponsorship. Layering multiple housing subsidy programs is common and often allows properties to offer deeper affordability or better amenities than LIHTC alone.
Yes. HFA records classify this as a new construction LIHTC property, meaning units were purpose-built as affordable housing rather than converted from existing stock. New construction properties often feature modern layouts and energy-efficient systems. It's worth asking management about the age of appliances and any known maintenance issues before applying.
According to HFA records, this LIHTC property is specifically designated to serve persons with disabilities, formerly homeless individuals, ADA and Accessible Units pursuant to CBC Chapter 11B, Transition age youth. This means it may have specialized services, accessible units, or preference policies that prioritize these groups. Contact management to understand their current preference and waitlist selection process — being in a designated group does not guarantee priority without a formal application.
Yes, this property participates in the Project-Based Section 8 program. Unlike a tenant-based voucher that moves with you, this subsidy is attached to the specific building. Eligible tenants generally pay 30% of their adjusted gross income toward rent, and the federal government covers the rest.
Federal law requires that at least 40% of available Project-Based Section 8 units each year be reserved for "extremely low-income" families—those earning at or below 30% of the Area Median Income (AMI) or the federal poverty line. If your household income is in this lowest tier, you may have higher priority on the waitlist.
Yes. Federal regulations mandate strict criminal background checks for Section 8 housing. Specifically, anyone subject to a lifetime sex offender registration requirement or convicted of manufacturing methamphetamine on the premises of federally assisted housing is permanently disqualified. Local housing authorities may also have additional screening criteria for recent drug-related or violent offenses.
Section 8 requires applicants to have U.S. citizenship or eligible immigration status. However, unlike some other rural programs, Section 8 allows for "mixed-status families" (households with both eligible and ineligible members). In this case, your rental assistance would be prorated based on the number of eligible household members.
Data Provenance
Sourced from LIHTC Database. Last updated: Jun 26, 2026.Read our methodology.
