The Terrace at Walnut Creek Apartments Review: Honest Review, True Costs, and What Listing Sites Won’t Tell You (Austin, TX)

A 2017-built apartment for under $800/month net effective rent in Austin. That’s the number that keeps this property showing up in my client searches. I track pricing across 1,000+ Austin properties. A one bedroom at $793/month net effective in a building less than ten years old is hard to beat. So what’s the catch?

This is an income restricted property. That changes everything about how you qualify.

Here’s what listing sites won’t tell you: this is a Low-Income Housing Tax Credit (LIHTC) community. That means income caps, not just income minimums. You can earn too much to live here. And the screening is stricter than you’d expect from an affordable property. Felonies of any kind are an automatic decline. So before you get excited about the price, let’s figure out whether you can actually get approved.

Quick Facts

The 3.9 Google rating looks decent until you compare it to the BBB’s F rating. I’ll break down what’s behind both of those numbers below.

Best For

You earn between $34,000 and $56,000 a year as a single person. This is the sweet spot. You earn enough to cover the rent, but you don’t blow past the 60% AMI income cap of $56,220 for a one person household. That window is narrower than most renters expect. If you’re a couple with combined income over $64,260, you’re out.

You’re a Section 8 voucher holder. The property takes vouchers. Finding newer construction that accepts them isn’t easy in Austin. Most voucher holders end up in Class C properties built in the 1980s. Getting into a 2017 build with granite counters, plank flooring, and 9-foot ceilings is a real step up.

You need a 3 or 4 bedroom and can’t afford market rate. A three bedroom at $1,299 and a four bedroom at $1,699 are well below what you’d pay at a market rate property. With 2 months free, a four bedroom drops to about $1,420/month net effective. Try finding that anywhere else in a building under 10 years old. If you’ve got a larger household and you qualify on income, you get a lot of space for the money here.

You have a clean background. If your rental history, credit, and criminal record are clean, this is one of the most affordable options built in the last ten years in the 78724 ZIP code.

Skip If

You have any felony conviction. Hard stop. Per the City of Austin’s affordable housing database, The Terrace at Walnut Creek declines all felonies and all violent or drug misdemeanors. No exceptions, no individual review. If you’ve got anything on your record, I can match you with East Austin properties that have more flexibility on screening.

You earn too much. This trips people up. A single person earning $57,000 a year doesn’t qualify. A household of four earning $81,000 doesn’t qualify. The income caps are tied to federal tax credit rules, not management preference. If your household income is above the limit, you’ll need market rate properties.

You have a large breed dog. The 60 lb weight limit cuts out a lot of dogs. NRP Group also has a breed restriction list that includes German Shepherds, Rottweilers, Pit Bulls, Dobermans, Akitas, and more. If you have a bigger dog, this isn’t going to work.

Responsive customer service is your top priority. The BBB’s F rating comes from 23 unanswered complaints. Multiple Google reviews say they can’t get anyone on the phone. If you need a management team that picks up when you call, this probably isn’t it.

Ready to See If The Terrace at Walnut Creek Fits Your Situation?

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Location Deep Dive

What’s Actually Nearby

The Terrace at Walnut Creek sits on Old Manor Road in the 78724 ZIP code, right off the Manor Expressway (US-290). This is northeast Austin. There’s not much to walk to. You’ll need a car for daily life.

Grocery is the catch. The nearest full grocery store is about 5 miles out. No H-E-B within a quick drive. Your closest options for a real grocery run are the stores along FM 969, Ed Bluestein Blvd, or Manor Road, all roughly 5 to 6 miles away. Plan on 10 to 15 minutes each way.

Walnut Creek Metropolitan Park is about 3 miles northwest. It’s one of Austin’s bigger parks with 12+ miles of trails for hiking and mountain biking. If you like being outside, that’s a real perk.

The property is fenced, with hills and green space around it. Residents talk about the scenery and the quiet. It feels more rural than suburban, which is either a plus or a minus depending on what you’re after.

Commute Math

Your biggest practical advantage here is 290 access. Outside of rush hour, you can get downtown in under 20 minutes. But rush hour changes the math. The 290/I-35 interchange backs up during morning and evening commutes, and that 18-minute drive can easily double.

The Real Feel

This area is still developing. It’s not the trendy East Austin that shows up in magazine articles. That’s the 78702 ZIP code, about 6 miles southwest. 78724 is more blue collar, more spread out, and quieter. The Manor Expressway has brought some commercial development, but Old Manor Road itself is still pretty quiet.

Fair warning: a few reviews mention vehicle security concerns. The property has controlled access gates, but gates don’t stop everything. More on that below.

Pricing and True Cost

Floor Plans

Net Effective Rent Calculation

Here’s the actual math on the 2 months free special using a 1BR as the example:

• Base rent: $949/month
• Special: 2 months free on a 12-month lease
• Daily multiplier: (365 days − 60 free days) ÷ 365 days = 0.8356
• Net effective rent: $949 × 0.8356 = $793/month
• Monthly savings: $949 − $793 = $156/month
• Annual savings: $156 × 12 = $1,872 over the lease term

That $793 net effective for a one bedroom built in 2017 is the number that makes this property worth a look. For context, average one bedroom rent in Austin runs well over $1,400 at market rate properties.

One thing to know: the income requirement always uses the base rent ($949), not the net effective ($793). Don’t assume the lower number is what they’ll check against. If you’re new to how net effective rent works, our guide to Austin apartments under $1,000 breaks down the full math.

Fee Breakdown

Required Fees:

Optional Fees (Pet Owners):

True Monthly Cost Example:

A renter in a 1BR with one dog, using the net effective rent:

• Net effective rent: $793
• Pet rent: $15
• Utilities: not included (you pay electric, water, trash separately)
• Estimated true monthly cost: ~$808+/month before utilities

Move-in costs for the same renter:

• Application fee: waived with promo (standard is $17)
• Admin fee: none published
• Security deposit: varies, ask the property
• Pet deposit: $150
• Pet fee: $150
• Estimated upfront total: $300+ in pet costs alone, plus whatever the deposit is

Want to Compare This Property’s True Cost to Nearby Options?

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Screening Criteria

This is where The Terrace at Walnut Creek gets strict. Because it’s an income restricted LIHTC property, there are rules here that market rate properties don’t deal with.

Income Requirements

So what does that look like in practice? This property has both a floor and a ceiling:

Income Caps (you can’t earn MORE than this):

Gross income means everything: wages, salaries, tips, interest, child support, Social Security. If your household is even $1 over the cap, you don’t qualify. This is a federal requirement tied to the tax credits, and NRP Group has zero flexibility on it.

Income Minimums:

The property also needs to see that you can cover the rent. LIHTC properties don’t use the standard 3x rent multiplier you see at market rate places. They check that your income is in the right range and that you’re making enough to pay. As a rough guide, you’d want to be earning at least $37,960/year (about $18.25/hour full time) to cover a 1BR at $949.

What Gets You Denied

Based on the City of Austin’s affordable housing database and NRP Group’s published criteria:

Automatic denials:

• Any felony conviction (no lookback period, no exceptions)
• Violent misdemeanors
• Drug misdemeanors
• More than one rental collection in the last 5 years combined with an eviction or foreclosure
• Landlord debt from the last 10 years (unless you can show proof it’s been paid off)
• Household income above the 60% AMI cap

Individual review possible:

• Single eviction without additional rental collections (per the property’s second chance program)
• Rental debt in collections (may qualify for their leasing program if your current rental history checks out)

Here’s what separates this from market rate screening: there’s no “pay a higher deposit and we’ll work with you” option for felonies. LIHTC properties play by different rules. The felony policy isn’t management being difficult. It’s how these programs work.

Here’s what working with a locator does differently: I can tell you whether your income, credit, and rental history will pass The Terrace’s screening before you spend time on an application. If this property doesn’t match your situation, I know which East Austin communities are more flexible. My service is free. The property pays my referral fee from their marketing budget.

Resident Reviews Decoded

Review Pattern Analysis

What Residents Praise

Theresa is the story here. I counted 15+ Google reviews that name her specifically. The praise is consistent: she gets things done, she follows up after you’ve settled in, and she helps residents who don’t speak English by getting them a translator. When someone at a property gets mentioned by name that many times, pay attention.

Other staff members get called out too. Diana Lopez shows up in 5+ reviews for helping with applications and getting people moved in, especially people renting for the first time. Adrian, the maintenance supervisor, gets praised for same-day repairs and keeping the grounds in shape.

The floor plans get positive mentions too. Multiple residents call the apartments spacious. And for what you’re paying, the square footage is solid. A 919 sq ft two bedroom at $1,049 is generous compared to what you’d find at similar price points elsewhere.

What Residents Criticize

Pests are the biggest red flag. Google reviews mention bugs in hallways. The ApartmentRatings review describes roach egg casings found when a new tenant moved in. And Nextdoor residents report both roaches and rats. That’s three platforms, same problem, over multiple years. For a building from 2017, this shouldn’t still be happening.

Common area upkeep is the next biggest issue. Multiple reviews describe hallways as dirty, with trash left outside doors and nobody cleaning it up. One reviewer walked the property and called it “dingy.” Another said management doesn’t enforce rules about residents throwing trash over balconies. The Nextdoor feedback is blunter: the property “only looks nice” and management “does not care about maintenance issues.”

Maintenance itself gets mixed reviews. Some residents report same-day fixes, especially when Adrian is involved. Others say work orders get marked complete when nothing was actually done. One resident reported a flooded kitchen that took days to fix even after she went to the office in person.

Then there’s safety. Nextdoor residents mention police activity on the property. Google reviews describe attempted vehicle break-ins. I want to be careful here. Every neighborhood has crime, and online reviews can exaggerate. But when it shows up on more than one platform, it’s worth mentioning so you can look into it yourself.

How Management Responds

NRP Group responds to most Google reviews, usually within a few days. But the responses are almost entirely copy-paste. Positive reviews get “we’re happy you had such a positive experience.” Negative reviews get “we’re sorry to hear about your experience.” Very few responses actually get into the specific issue.

So what does that tell you? The BBB’s F rating (23 unanswered complaints, 4 unresolved) tells the rest of the story. When problems go beyond a Google review, the response drops off.

The Uncomfortable Truth

No listing site will write this section. I’m not trying to kill the deal. I want you to know what you’re signing up for.

The Pest Problem Goes Beyond “A Few Bugs”

I covered this above, but it’s worth calling out again. Roach egg casings at move-in. Rats on Nextdoor. Bugs in hallways on Google. Three platforms, same problem, over years. For a 2017 building with controlled access, that says something about how they’re keeping the place up between tenants. Ask the leasing office about their pest control schedule before you sign anything. And walk the hallways yourself.

The Pool May Not Be Open

The property website, NRP Group’s corporate page, and every listing site still advertise a pool. But a Nextdoor resident says the pool has been closed for over a year with no plans to reopen. I can’t confirm which is accurate from public sources alone. If a pool matters to you, ask the leasing office directly before you apply. Don’t go off the listing photos.

An F from the BBB

Here’s the thing about the Better Business Bureau: an F is the worst grade they hand out. It’s based on 23 unanswered complaints and 4 they just never dealt with. One Yelp reviewer who lived there for 7 years said the compliance office never returns calls.

Responding to Google reviews with copy-paste is one thing. Ignoring formal complaints through the BBB is another.

Safety Concerns Show Up on Multiple Platforms

Google reviews describe attempted vehicle thefts and broken car windows. Nextdoor residents mention police activity on the property. The controlled access gates help, but they’re not foolproof. This is something you’d want to check out in person, at different times of day, before committing.

Nighttime Noise From Other Residents

The ApartmentRatings review from 2019 tells a different story than the “quiet community” you’ll see in some Google reviews. Car alarms going off all night. Loud exhaust systems. Residents honking and squealing tires in the early morning. Your experience will probably depend on which building you’re in and who your neighbors are.

The Felony Policy Cuts Out a Lot of People Who Need Affordable Housing

Here’s the uncomfortable part: this is an affordable property built to serve renters who need lower cost housing, but it auto-declines anyone with a felony. No individual review, no lookback period, no exceptions. That cuts out a lot of the people who need affordable housing the most. If you have any criminal history, I’d recommend looking at my second chance apartments guide for properties that do individual reviews.

The Office Is Hard to Reach

Multiple reviews across Google and Yelp talk about calling the office for days without anyone picking up. The office is closed weekends (Saturday and Sunday both), which limits when you can handle things in person. One resident walked to the leasing office during posted hours and found the door locked with staff visible inside ignoring her in 100-degree heat. If you work a standard weekday schedule, getting to the office means taking time off.

Ready to Move Forward, or Want to See Alternatives?

If The Terrace works for your situation, I can help speed up the process. If it doesn’t, I’ll build you a list of income restricted and affordable properties in East Austin that match your situation.

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FAQ

Is The Terrace at Walnut Creek income restricted?

Yes. It’s a LIHTC property at 60% of Area Median Income. You have to earn below the income cap for your household size. A single person can earn up to $56,220/year. A household of four can earn up to $80,280/year.

Does The Terrace at Walnut Creek accept Section 8 vouchers?

They do. Voucher holders get screened under Section 8 income rules.

Does The Terrace at Walnut Creek accept felonies?

No. All felonies are a no, per the City of Austin’s affordable housing database. Violent and drug misdemeanors are also declined. No lookback period, no individual review.

What is the pet policy at The Terrace at Walnut Creek?

Dogs and cats only, 60 lbs max, 2 pets max per unit. NRP Group has a breed restriction list that includes Pit Bulls, Rottweilers, German Shepherds, Dobermans, Akitas, Chow Chows, and American Bulldogs, among others. Costs: $150 refundable deposit + $150 fee (you don’t get this one back) + $15/month pet rent, all per pet.

What’s the current move-in special at The Terrace at Walnut Creek?

As of August 2026, the property is offering 2 months free on move-ins by August 31, 2026, with reduced base rates. Use promo code “APPLFEE” to waive the application fee. Check with the property directly to make sure this is still running.

How far is The Terrace at Walnut Creek from downtown Austin?

About 11 miles northeast. Roughly 18 minutes outside of rush hour and 30 to 40 minutes during rush hour via US-290 and I-35.

What school district serves The Terrace at Walnut Creek?

Austin ISD. The City of Austin’s affordable housing database lists Overton Elementary, Garcia Middle School, and LBJ High School. Apartments.com shows Dobie Middle School as the zoned campus. School zoning shifts, so confirm with AISD if schools are important to you.

Does The Terrace at Walnut Creek have in-unit washers and dryers?

The units have washer/dryer hookups, but machines aren’t included. There’s also a laundry room on site.

Can I apply for The Terrace at Walnut Creek with an eviction on my record?

It depends. A single eviction may get individual review under their second chance leasing program. But an eviction combined with more than one rental collection in the last five years is an automatic rejection. If you’ve been denied elsewhere, reach out and I can match you with properties that take a more flexible approach.

The Bottom Line

The Terrace at Walnut Creek has something you don’t see often in Austin: an apartment built in 2017 with 9-foot ceilings, granite counters, and plank flooring at income restricted pricing. The 2 months free special drops a one bedroom to $793/month net effective. That math works.

Here’s the trade-off: everything around the math. The BBB’s F rating, the common area issues, how hard it is to reach the office, and the strict “no felonies” screening policy all come with the address.

This property makes sense if:

• Your household income falls within the 40–60% AMI limits
• You have a clean criminal background and solid rental history
• You want newer construction priced below what the open market charges
• You hold a Section 8 voucher and want a modern apartment
• You need a 3 or 4 bedroom for a larger household

This property doesn’t make sense if:

• You have any felony conviction or violent/drug misdemeanor
• Your household income exceeds the published caps
• You have a dog over 60 lbs or a breed on the restricted list
• You need responsive office communication, especially on weekends
• Common area cleanliness matters a lot to your daily quality of life

My honest take: the apartments themselves are solid for the price, and the staff (especially Theresa) gets consistently good reviews on Google. But the picture changes when you look beyond Google. The Nextdoor feedback is rough: pest problems, a possibly closed pool, safety concerns. The BBB gave them an F based on 23 unanswered complaints. And the ApartmentRatings move-in horror story (roach egg casings and feces in the unit) is the kind of thing that doesn’t show up on listing sites.

If you qualify on income and background, tour the property yourself before deciding. Walk the hallways. Check the common areas. Ask if the pool is open. Visit at night if you can. And get everything about the special in writing before you apply.

Need Help?

Want to work with a locator (it’s free): I can check your income eligibility and whether your background clears this property’s screening. I can also compare the true cost against other income restricted options in Austin. If The Terrace doesn’t work out, I’ve got a list of alternatives. My service is free. The apartment community pays my referral fee from their marketing budget. Your rent is the same either way.

Prefer to go solo: Call The Terrace at Walnut Creek directly at (844) 939-4462 or visit terracewalnutcreek.com. Just tell them “Ross Quade from Austin Apartment Team” referred you on your tour and application. Text me at 512-360-0852 when you apply so I can make sure everything’s on track.