Takes 30 seconds. 100% free
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, USDA Section 515.
Best fit
Families · Income-qualified renters
Rent
Est. $720 - $1716/mo
Based on local HUD estimates
Floor plans
1 Bed • 2 Bed • 3 Bed
Total Units
64
Assisted
---
Year Built / Opened
1998
Walk Score®, Transit Score®, and Bike Score® are trademarks of Walk Score and Redfin.
How Walk Score worksNearby places
Grocery store
Walmart Supercenter, about 0.34 miles away
School
Graham H S, about 0.74 miles away
What this means for you
This property includes LIHTC tax credit, USDA Section 515. Rent rules can change by unit, so ask the office which program applies to the apartment you want.
USDA Section 515: This is rural housing in a smaller town or rural area. Many tenants pay based on income, but the exact rent can vary by unit and assistance level.
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 76450 zip code is $87,736 (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 LONE OAKS APTS, your total household income must fit the local Area Median Income (AMI) limits for Graham and the 76450 zip code. The exact rules can vary by program and by household size.
This property includes LIHTC tax credit, USDA Section 515. Check the program labels on this page and confirm the exact unit rules with management before you apply.
Local Median (1-Person)
$61,415
Local Median (4-Person)
$87,736
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 | $720 | $800 | $880 |
| 1 BR | $729 | $810 | $891 |
| 2 BR | $954 | $1,060 | $1,166 |
| 3 BR | $1,323 | $1,470 | $1,617 |
| 4 BR | $1,404 | $1,560 | $1,716 |
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
SWAN MGMT CO
Property Owner
LONE OAK HOUSING ASSOC LTD
For Profit
Rent-Restricted Units
64 of 64 total
income-restricted tax credit apartments
Rent-Restricted Until
~1998
Minimum 30-year LIHTC legal commitment
Additional Financing Sources
Lone oaks apts is a Low Income Housing Tax Credit (LIHTC) apartment community in Graham, Texas. 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 Graham. Based on 2024 data, the local AMI for the 76450 zip code is $61,415 for a single person and $87,736 for a 4-person household. These figures make Graham 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. 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. Lone oaks apts was placed in service around 1998, keeping rents income-restricted at least through ~1998.
You must be of qualifying age. Your income must fall within HUD's Area Median Income (AMI) limits for Graham. Based on the 76450 zip code AMI (2024), this property's 50% income limit is approximately $30,708/yr for 1 person / $43,868/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 76450 zip code. Based on recent Census data, the local median income is $61,415 for a single person, and $87,736 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.
For 76450, the reported fair market rent amounts are Studio $800 ($720 / $880); 1 BR $810 ($729 / $891); 2 BR $1,060 ($954 / $1,166); 3 BR $1,470 ($1,323 / $1,617); 4 BR $1,560 ($1,404 / $1,716). 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 | $720 | $800 | $880 |
| 1 BR | $729 | $810 | $891 |
| 2 BR | $954 | $1,060 | $1,166 |
| 3 BR | $1,323 | $1,470 | $1,617 |
| 4 BR | $1,404 | $1,560 | $1,716 |
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.
Walmart Supercenter is about 0.34 miles away from Lone oaks apts.
Graham H S is about 0.74 miles away from Lone oaks apts.
Lone oaks apts is part of the USDA Section 515 program, providing affordable housing to low-income households. This program offers income based apartments and low income housing options in graham.
No. USDA Section 515 housing is open to anyone who meets the income limits for graham. You do not need to be a farmworker or work in agriculture to qualify for these affordable apartments.
This record reports: 1 Bed • 2 Bed • 3 Bed. Availability can change rapidly, so ask management which layouts are currently open and whether any accessible units are available.
This page currently shows 3 vacant units reported. Even with vacancies, you should still ask whether the unit type you need is immediately available and whether screening or document review could delay move-in.
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.
As a LIHTC property, Lone oaks apts requires your household income to fall below a set percentage of the Area Median Income (AMI) for the local area. Based on 2024 data for the 76450 zip code, the local median income is $61,415 for a single person and $87,736 for a 4-person household. The exact income ceiling isn't recorded here — ask management directly for the current income limit table for your household size.
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.
LIHTC properties are required by law to remain affordable for a minimum of 30 years from the date they were placed in service (Lone oaks apts was placed in service around 1998, so rent restrictions are secured at least until ~2028). After that period, the owner can choose to exit the program or renew. Ask management about the property's current compliance end date.
In addition to the federal Low Income Housing Tax Credit, this property was also financed with: USDA Section 515 rural housing loan. Layering multiple housing subsidy programs is common and often allows properties to offer deeper affordability or better amenities than LIHTC alone.
HFA records show this property was acquired and rehabilitated using LIHTC funding around 1998. Renovation scope varies widely — some properties received light cosmetic updates while others were substantially rebuilt. Ask management what was renovated, the age of key systems (roof, HVAC, plumbing), and whether any additional work is planned.
Data Provenance
Sourced from USDA Section 515 Directory. Last updated: Jul 4, 2026.Read our methodology.
