About This Property
Masters Apts I comprises 96 units in Valparaiso, Indiana, with 88 designated as low-income housing. The property includes 32 one-bedroom, 32 two-bedroom, and 32 three-bedroom units and has been in service since 2002. The development utilizes 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Porter 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 | $1,027 |
| 2 Bedroom | $1,254 |
| 3 Bedroom | $1,539 |
| 4 Bedroom | $1,672 |
Income Limits - Porter County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,900
- Very Low (50%)
- $26,450
- Low (80%)
- $42,300
- Extremely Low (30%)
- $18,150
- Very Low (50%)
- $30,200
- Low (80%)
- $48,350
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,000
- Low (80%)
- $54,400
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $37,750
- Low (80%)
- $60,400
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $40,800
- Low (80%)
- $65,250
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $43,800
- Low (80%)
- $70,100
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $46,850
- Low (80%)
- $74,900
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $49,850
- Low (80%)
- $79,750
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,900 | $26,450 | $42,300 |
| 2 Persons | $18,150 | $30,200 | $48,350 |
| 3 Persons | $21,960 | $34,000 | $54,400 |
| 4 Persons | $26,500 | $37,750 | $60,400 |
| 5 Persons | $31,040 | $40,800 | $65,250 |
| 6 Persons | $35,580 | $43,800 | $70,100 |
| 7 Persons | $40,120 | $46,850 | $74,900 |
| 8 Persons | $44,660 | $49,850 | $79,750 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Valparaiso, IN?+
The Fair Market Rent (FMR) for Porter County, IN is: $869 (Studio), $1027 (1BR), $1254 (2BR), $1539 (3BR), $1672 (4BR). Actual rent at subsidized properties like Masters Apts I is typically 30% of household income or less.
What size apartments are available at Masters Apts I?+
Masters Apts I offers the following unit types: 32 One-Bedroom, 32 Two-Bedroom, 32 Three-Bedroom units, for a total of 96 units.
How do I apply for housing at Masters Apts I?+
Masters Apts I 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 is the price range for apartments in Valparaiso, IN?+
Based on Fair Market Rent for Porter County, the estimated price range is: 1-bedroom: $1027, 2-bedroom: $1254, 3-bedroom: $1539. Actual rent at Masters Apts I may be lower for income-eligible households.
What are the income limits for affordable housing in Porter County, IN?+
For a 4-person household in Porter County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $37,750, Low Income (80% AMI): $60,400. These limits are set by HUD and updated annually.
Who manages Masters Apts I?+
Masters Apts I is managed by . You can reach them at .
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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