About This Property
Main Street Cottages provides 18 low-income units in Princeton, Indiana, serving elderly residents. The property, placed in service in 2015, offers a mix of three 1-bedroom and fifteen 2-bedroom units. Contact information and management details are available upon request.
Property Details
Fair Market Rent - Gibson County, IN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $723 |
| 1 Bedroom | $727 |
| 2 Bedroom | $883 |
| 3 Bedroom | $1,172 |
| 4 Bedroom | $1,176 |
Income Limits - Gibson County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,850
- Very Low (50%)
- $24,750
- Low (80%)
- $39,600
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,300
- Low (80%)
- $45,250
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $31,850
- Low (80%)
- $50,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $35,350
- Low (80%)
- $56,550
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,200
- Low (80%)
- $61,100
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,050
- Low (80%)
- $65,600
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $43,850
- Low (80%)
- $70,150
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $46,700
- Low (80%)
- $74,650
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,850 | $24,750 | $39,600 |
| 2 Persons | $17,420 | $28,300 | $45,250 |
| 3 Persons | $21,960 | $31,850 | $50,900 |
| 4 Persons | $26,500 | $35,350 | $56,550 |
| 5 Persons | $31,040 | $38,200 | $61,100 |
| 6 Persons | $35,580 | $41,050 | $65,600 |
| 7 Persons | $40,120 | $43,850 | $70,150 |
| 8 Persons | $44,660 | $46,700 | $74,650 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Princeton, IN?+
The Fair Market Rent (FMR) for Gibson County, IN is: $723 (Studio), $727 (1BR), $883 (2BR), $1172 (3BR), $1176 (4BR). Actual rent at subsidized properties like Main Street Cottages is typically 30% of household income or less.
What size apartments are available at Main Street Cottages?+
Main Street Cottages offers the following unit types: 3 One-Bedroom, 15 Two-Bedroom units, for a total of 18 units.
How do I apply for housing at Main Street Cottages?+
Main Street Cottages is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What are the income limits for affordable housing in Gibson County, IN?+
For a 4-person household in Gibson County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $35,350, Low Income (80% AMI): $56,550. These limits are set by HUD and updated annually.
Who manages Main Street Cottages?+
Main Street Cottages is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Princeton, IN?+
Based on Fair Market Rent for Gibson County, the estimated price range is: 1-bedroom: $727, 2-bedroom: $883. Actual rent at Main Street Cottages may be lower for income-eligible households.
Who is eligible to live at Main Street Cottages?+
Main Street Cottages primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.