Lexington, North Carolina · Davidson County
Hill Top Terrace Apartments
Hill Top Terrace Apartments is a low-income housing tax credit (Section 42) property at 111 N Carolina Ave, Lexington, NC 27292 with 63 income-restricted apartments out of 64, placed in service in 2012. In 2026 a household of four qualifies for a 60% unit here with income up to $51,600, and a 60% two-bedroom can charge at most $1,161 a month in gross rent.
Equal housing opportunity. Fair Housing Act protections apply, and tax credit properties can't turn down a Housing Choice voucher. Report discrimination to HUD at 1‑800‑669‑9777. LIHTC Atlas doesn't own, manage or rent these apartments.
Full fair housing notice
Tax credit properties must follow the Fair Housing Act, which bars discrimination because of race, color, religion, sex, disability, familial status or national origin, and they may not refuse an applicant because the applicant holds a Housing Choice (Section 8) voucher (IRC 42(h)(6)(B)(iv)). Properties HUD lists as senior housing may limit who lives there by age only as the Fair Housing Act's housing-for-older-persons exemption allows. To report housing discrimination, call HUD at 1‑800‑669‑9777.
LIHTC Atlas does not own, manage or rent these apartments and does not take applications. Contact each property's management for availability, rents and income rules. Listings come from HUD's database and may be out of date.
Property facts
- Address
- 111 N Carolina Ave, Lexington, NC 27292 (map)
- County
- Davidson County
- Apartments
- 64
- Income-restricted apartments
- 63
- Bedrooms
- 2 studios, 60 one-bedrooms, 2 two-bedrooms
- Who it serves (HUD)
- Families
- Placed in service
- 2012
- Credits allocated
- 1988
- Construction
- Acquisition and rehab
- Credit type
- Both 4% and 9%
- Tax-exempt bond financing
- No
- Nonprofit sponsor
- No
- Rental assistance
- State project-based assistance
- Resyndicated
- Yes
- Census tract (2020)
- 37057061502
- HUD project ID
- NCA20120816
Source: HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024), as the state allocating agency reported it. HUD lists the property as still monitored for compliance. Contact the property's management for current rents, availability and income rules.
2026 income limits and rents in Davidson County
To rent an income-restricted apartment here in 2026, a household's income has to be at or under the unit's limit: $36,120 for one person or $51,600 for four at 60% of area median, $30,100 or $43,000 at 50%. HUD's FY2026 median family income for the area (Davidson County, NC HUD Metro FMR Area) is $86,000.
HUD's record lists the property's elected income test as 60% of area median (the 40/60 test).
Income limits by household size, 2026
| Level | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI | $30,100 | $34,400 | $38,700 | $43,000 |
| 60% AMI | $36,120 | $41,280 | $46,440 | $51,600 |
Maximum gross monthly rent by unit size, 2026
| Level | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| 50% AMI | $752 | $806 | $967 | $1,118 | $1,247 |
| 60% AMI | $903 | $967 | $1,161 | $1,341 | $1,497 |
Source: HUD FY2026 MTSP income limits (files dated March 27, 2026). Rents are ceilings, gross of the utility allowance for tenant-paid utilities, computed by the IRS Publication 5913 method (30% of the limit for 1 person in a studio or 1.5 people per bedroom, over 12, rounded down); the rent the property charges can be lower. A project's limits can't fall below those of earlier years (IRC 142(d)(2)(E)), so a property already in service may use higher figures. All 2026 limits for Davidson County, every level from 20% to 80%.
How long the units stay affordable
15-year compliance period: 2012 to about 2026. It starts with the first year of the credit period, which is the year the building was placed in service or, if the owner elects, the next year, so it can run a year later, through 2027 (IRC 42(f)(1), 42(i)(1)). It is still running in 2026.
Extended use: HUD dates this property's allocation to 1988. Credits allocated before 1990 came without the federal extended use requirement, which began with allocations after 1989; any longer restriction would come from the state agency or other financing.
QCT and DDA status
Its 2020 census tract, 37057061502, is not a Qualified Census Tract on HUD's 2027 list. ZIP code 27292 doesn't match a 2027 Small Difficult Development Area ZCTA.
For the year it was placed in service, HUD's record puts the property not in a Qualified Census Tract, on that year's tract boundaries.
The 2027 lists (HUD, Federal Register Doc. 2026-20390) govern allocations made after 2026, such as a resyndication; the property's original basis boost depended on the lists in force when it received credits. A ZIP code and its ZCTA usually match but not always. Check an exact address with the QCT and DDA lookup.
Other tax credit properties in Lexington
- East Center Village520 East Center Street · 54 restricted units
- The Arbor at Cotton Grove100 Cotton Grove Circle · 80 restricted units
- The Club Apartments6 London Court B · 87 restricted units
- Southside Apartments100 Federal Street · 130 restricted units
- Harmony Court and Caple Commons1 Jamaica Drive · 138 restricted units
- Forest Hill Apartments900 Apex Drive · 88 restricted units
All 8 properties in Lexington. Nearby cities: Salisbury (16), High Point (23), Winston Salem (38), Mocksville (6), Kernersville (6), Asheboro (10).
How tax credit apartments work
Rent in an income-restricted unit is capped by the unit's size, not set by your income, and you qualify if your household earns at or under the unit's limit, usually 50% or 60% of the area median. You can apply with a Housing Choice voucher. How to qualify, step by step.