About This Property
The Reserves At Mill Farm offers 32 affordable rental units in Pella, Iowa, with 31 designated as low-income housing. Placed in service in 2014, the community features 16 two-bedroom units and serves families. The property utilizes 9% Low-Income Housing Tax Credits to maintain affordability.
Property Details
Fair Market Rent - Marion 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 | $638 |
| 1 Bedroom | $737 |
| 2 Bedroom | $941 |
| 3 Bedroom | $1,138 |
| 4 Bedroom | $1,253 |
Income Limits - Marion County, IA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,000
- Very Low (50%)
- $26,650
- Low (80%)
- $42,650
- Extremely Low (30%)
- $18,300
- Very Low (50%)
- $30,450
- Low (80%)
- $48,750
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,250
- Low (80%)
- $54,850
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,050
- Low (80%)
- $60,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,100
- Low (80%)
- $65,800
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,150
- Low (80%)
- $70,650
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,200
- Low (80%)
- $75,550
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,250
- Low (80%)
- $80,400
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,000 | $26,650 | $42,650 |
| 2 Persons | $18,300 | $30,450 | $48,750 |
| 3 Persons | $21,960 | $34,250 | $54,850 |
| 4 Persons | $26,500 | $38,050 | $60,900 |
| 5 Persons | $31,040 | $41,100 | $65,800 |
| 6 Persons | $35,580 | $44,150 | $70,650 |
| 7 Persons | $40,120 | $47,200 | $75,550 |
| 8 Persons | $44,660 | $50,250 | $80,400 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Pella, IA?+
The Fair Market Rent (FMR) for Marion County, IA is: $638 (Studio), $737 (1BR), $941 (2BR), $1138 (3BR), $1253 (4BR). Actual rent at subsidized properties like The Reserves At Mill Farm is typically 30% of household income or less.
What size apartments are available at The Reserves At Mill Farm?+
The Reserves At Mill Farm offers the following unit types: 16 Two-Bedroom units, for a total of 32 units.
Who is eligible to live at The Reserves At Mill Farm?+
The Reserves At Mill Farm primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages The Reserves At Mill Farm?+
The Reserves At Mill Farm is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Pella, IA?+
Based on Fair Market Rent for Marion County, the estimated price range is: 2-bedroom: $941. Actual rent at The Reserves At Mill Farm may be lower for income-eligible households.
How do I apply for housing at The Reserves At Mill Farm?+
The Reserves At Mill Farm 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 Marion County, IA?+
For a 4-person household in Marion County, IA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,050, Low Income (80% AMI): $60,900. These limits are set by HUD and updated annually.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
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