About This Property
Masters Apts II contains 64 units across 16 one-bedroom and 48 two-bedroom floor plans in Valparaiso, IN. The property includes 54 low-income units and has been in service since 2008, serving families, disabled individuals, and homeless populations. The development utilizes 9% Low-Income Housing Tax Credits and is managed by Porter County.
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 Ii is typically 30% of household income or less.
What size apartments are available at Masters Apts Ii?+
Masters Apts Ii offers the following unit types: 16 One-Bedroom, 48 Two-Bedroom units, for a total of 64 units.
Who is eligible to live at Masters Apts Ii?+
Masters Apts Ii primarily serves families, persons with disabilities, formerly homeless individuals. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Masters Apts Ii?+
Masters Apts Ii is managed by . You can reach them at . Visit their website for more information.
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.
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. Actual rent at Masters Apts Ii may be lower for income-eligible households.
How do I apply for housing at Masters Apts Ii?+
Masters Apts Ii 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.
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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