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Winston Salem, North Carolina · Forsyth County

Rolling Hills

Rolling Hills is a low-income housing tax credit (Section 42) property at 770 Ferrell Court, Winston Salem, NC 27101 with 110 income-restricted apartments out of 110, placed in service in 1991. In 2026 a household of four qualifies for a 60% unit here with income up to $57,180 ($58,920 under HUD's HERA Special limits, which a property placed in service by 2008 can use), and a 60% two-bedroom can charge at most $1,326 a month in gross rent.

Check whether your household income qualifies

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 Listings come from HUD's database and may be out of date.

110Apartments
110Income-restricted
1991Placed in service
about 2005Compliance period ends

Property facts

Address
770 Ferrell Court, Winston Salem, NC 27101 (map)
County
Forsyth County
Apartments
110
Income-restricted apartments
110
Bedrooms
12 one-bedrooms, 50 two-bedrooms, 40 three-bedrooms, 8 four-bedroom or larger units
Who it serves (HUD)
Families
Placed in service
1991
Credits allocated
1991
Construction
Acquisition and rehab
Credit type
Both 4% and 9%
Tax-exempt bond financing
No
Nonprofit sponsor
No
Rental assistance
Federal project-based assistance
Resyndicated
Yes
Census tract (2020)
37067001700
HUD project ID
NCA19919144

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 Forsyth County

To rent an income-restricted apartment here in 2026, a household's income has to be at or under the unit's limit: $40,020 for one person or $57,180 for four at 60% of area median, $33,350 or $47,650 at 50%. HUD's FY2026 median family income for the area (Winston-Salem, NC HUD Metro FMR Area) is $96,700.

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

Level1 person2 people3 people4 people
50% AMI$33,350$38,150$42,900$47,650
60% AMI$40,020$45,780$51,480$57,180

Maximum gross monthly rent by unit size, 2026

LevelStudio1 BR2 BR3 BR4 BR
50% AMI$833$893$1,072$1,239$1,382
60% AMI$1,000$1,072$1,287$1,487$1,659

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 Forsyth County, every level from 20% to 80%.

HERA Special limits. Forsyth County is a HUD hold-harmless impacted area, and projects placed in service there by December 31, 2008 use HUD's higher HERA Special limits: $41,280 for one person and $58,920 for four at 60%, with a 60% two-bedroom at up to $1,326. HUD dates this property to 1991, so it can use them where they are higher.

How long the units stay affordable

15-year compliance period: 1991 to about 2005. 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 2006 (IRC 42(f)(1), 42(i)(1)). It has ended.

Extended use: 2020 at the earliest. The extended use agreement keeps the units income-restricted for at least 15 years after the compliance period, 30 years in all; that is the federal minimum, and many state agencies require longer (IRC 42(h)(6)(D)). The 30-year minimum has passed; HUD's file still lists the property as monitored, so its agreement or another program may still restrict it.

After year 14 an owner can ask the state agency to find a buyer at the "qualified contract" price; if none is found, the extended use period can end early, with three more years of protection for existing tenants, unless the agreement waives that right, as many states require (IRC 42(h)(6)(E)-(F)). The recorded agreement governs; ask the state agency for this property's terms.

QCT and DDA status

Its 2020 census tract, 37067001700, is a Qualified Census Tract on HUD's 2027 list. ZIP code 27101 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 Winston Salem

All 38 properties in Winston Salem. Nearby cities: Kernersville (6), King (5), High Point (23), Lexington (8), Mocksville (6), Greensboro (62).

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.