Austin, Texas · Travis County
Paradise Oaks Apartments
Paradise Oaks Apartments is a low-income housing tax credit (Section 42) property at 1500 Faro Dr, Austin, TX 78741 with 248 apartments. In 2026 a household of four qualifies for a 60% unit here with income up to $80,640, and a 60% two-bedroom can charge at most $1,815 a month in gross rent.
HUD lists it as "PARADISE OAKS APTS".
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 Listings come from HUD's database and may be out of date.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
- 1500 Faro Dr, Austin, TX 78741 (map)
- County
- Travis County
- Apartments
- 248
- Census tract (2020)
- 48453002325
- HUD project ID
- TXA00000435
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 Travis County
To rent an income-restricted apartment here in 2026, a household's income has to be at or under the unit's limit: $56,460 for one person or $80,640 for four at 60% of area median, $47,050 or $67,200 at 50%. HUD's FY2026 median family income for the area (Austin-Round Rock-San Marcos, TX MSA) is $134,400.
Income limits by household size, 2026
| Level | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI | $47,050 | $53,800 | $60,500 | $67,200 |
| 60% AMI | $56,460 | $64,560 | $72,600 | $80,640 |
Maximum gross monthly rent by unit size, 2026
| Level | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| 50% AMI | $1,176 | $1,260 | $1,512 | $1,747 | $1,950 |
| 60% AMI | $1,411 | $1,512 | $1,815 | $2,097 | $2,340 |
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 Travis County, every level from 20% to 80%.
HERA Special limits. Travis 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: $58,140 for one person and $82,980 for four at 60%, with a 60% two-bedroom at up to $1,867. HUD's record has no placed-in-service year, so whether they apply isn't known here.
How long the units stay affordable
HUD's record has no placed-in-service year for this property, so its compliance dates can't be worked out here. The 15-year compliance period starts in the first year of the credit period, and for credits allocated after 1989 an extended use agreement keeps the units restricted for at least 30 years in all (IRC 42(i)(1), 42(h)(6)).
QCT and DDA status
Its 2020 census tract, 48453002325, is a Qualified Census Tract on HUD's 2027 list. ZIP code 78741 doesn't match a 2027 Small Difficult Development Area ZCTA.
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 Austin
- Grove Place Apartments (See Comments)1881 Grove Blvd ·
- Cambrian East Riverside1806 Clubview Avenue · 55 restricted units
- Fairway Village6118 Fairway St ·
- Pleasant Hill Apartments2501 Anken Dr ·
- Riverside Meadows1601 Montopolis Dr ·
- VI Collina2431 E. Oltorf Street · 170 restricted units
All 142 properties in Austin. Nearby cities: Pflugerville (6), Round Rock (8), Cedar Park (5), Leander (5), Georgetown (13), Taylor (5).
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.