About This Property
Madison Cottages of Rensselaer II is a 33-unit affordable housing community in Rensselaer, Indiana, with 27 units designated for low-income households. The property offers a mix of studio, one-bedroom, two-bedroom, and three-bedroom units and has been in service since 2003. The community is owned and operated by a non-profit organization.
Property Details
Fair Market Rent - Jasper 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 | $869 |
| 1 Bedroom | $874 |
| 2 Bedroom | $1,149 |
| 3 Bedroom | $1,495 |
| 4 Bedroom | $1,530 |
Income Limits - Jasper County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,200
- Very Low (50%)
- $25,350
- Low (80%)
- $40,500
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,950
- Low (80%)
- $46,300
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,550
- Low (80%)
- $52,100
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,150
- Low (80%)
- $57,850
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $39,050
- Low (80%)
- $62,500
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,950
- Low (80%)
- $67,150
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,850
- Low (80%)
- $71,750
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,750
- Low (80%)
- $76,400
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,200 | $25,350 | $40,500 |
| 2 Persons | $17,420 | $28,950 | $46,300 |
| 3 Persons | $21,960 | $32,550 | $52,100 |
| 4 Persons | $26,500 | $36,150 | $57,850 |
| 5 Persons | $31,040 | $39,050 | $62,500 |
| 6 Persons | $35,580 | $41,950 | $67,150 |
| 7 Persons | $40,120 | $44,850 | $71,750 |
| 8 Persons | $44,660 | $47,750 | $76,400 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Rensselaer, IN?+
The Fair Market Rent (FMR) for Jasper County, IN is: $869 (Studio), $874 (1BR), $1149 (2BR), $1495 (3BR), $1530 (4BR). Actual rent at subsidized properties like Madison Cottages of Rensselaer Ii is typically 30% of household income or less.
What size apartments are available at Madison Cottages of Rensselaer Ii?+
Madison Cottages of Rensselaer Ii offers the following unit types: 1 Studio, 2 One-Bedroom, 19 Two-Bedroom, 11 Three-Bedroom units, for a total of 33 units.
What is the price range for apartments in Rensselaer, IN?+
Based on Fair Market Rent for Jasper County, the estimated price range is: 1-bedroom: $874, 2-bedroom: $1149, 3-bedroom: $1495. Actual rent at Madison Cottages of Rensselaer Ii may be lower for income-eligible households.
Who manages Madison Cottages of Rensselaer Ii?+
Madison Cottages of Rensselaer Ii is managed by . You can reach them at .
How do I apply for housing at Madison Cottages of Rensselaer Ii?+
Madison Cottages of Rensselaer Ii is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , 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 Jasper County, IN?+
For a 4-person household in Jasper County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,150, Low Income (80% AMI): $57,850. These limits are set by HUD and updated annually.
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.