About This Property
Lake Plaza Apts II comprises 23 low-income units serving elderly residents in Clear Lake, Iowa. The property includes 19 one-bedroom and four two-bedroom apartments and has been in service since 2006. The development is financed through 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Cerro Gordo County, IA
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $649 |
| 1 Bedroom | $677 |
| 2 Bedroom | $889 |
| 3 Bedroom | $1,145 |
| 4 Bedroom | $1,323 |
Income Limits - Cerro Gordo County, IA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,500
- Very Low (50%)
- $25,800
- Low (80%)
- $41,300
- Extremely Low (30%)
- $17,700
- Very Low (50%)
- $29,500
- Low (80%)
- $47,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $33,200
- Low (80%)
- $53,100
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,850
- Low (80%)
- $58,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $39,800
- Low (80%)
- $63,700
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $42,750
- Low (80%)
- $68,400
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $45,700
- Low (80%)
- $73,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $48,650
- Low (80%)
- $77,850
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,500 | $25,800 | $41,300 |
| 2 Persons | $17,700 | $29,500 | $47,200 |
| 3 Persons | $21,960 | $33,200 | $53,100 |
| 4 Persons | $26,500 | $36,850 | $58,950 |
| 5 Persons | $31,040 | $39,800 | $63,700 |
| 6 Persons | $35,580 | $42,750 | $68,400 |
| 7 Persons | $40,120 | $45,700 | $73,100 |
| 8 Persons | $44,660 | $48,650 | $77,850 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Clear Lake, IA?+
The Fair Market Rent (FMR) for Cerro Gordo County, IA is: $649 (Studio), $677 (1BR), $889 (2BR), $1145 (3BR), $1323 (4BR). Actual rent at subsidized properties like Lake Plaza Apts Ii is typically 30% of household income or less.
What size apartments are available at Lake Plaza Apts Ii?+
Lake Plaza Apts Ii offers the following unit types: 19 One-Bedroom, 4 Two-Bedroom units, for a total of 23 units.
How do I apply for housing at Lake Plaza Apts Ii?+
Lake Plaza 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.
Who manages Lake Plaza Apts Ii?+
Lake Plaza 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 Cerro Gordo County, IA?+
For a 4-person household in Cerro Gordo County, IA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,850, Low Income (80% AMI): $58,950. These limits are set by HUD and updated annually.
Who is eligible to live at Lake Plaza Apts Ii?+
Lake Plaza Apts Ii primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Clear Lake, IA?+
Based on Fair Market Rent for Cerro Gordo County, the estimated price range is: 1-bedroom: $677, 2-bedroom: $889. Actual rent at Lake Plaza Apts Ii may be lower for income-eligible households.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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