About This Property
Island City Apts consists of 48 low-income units in Eaton Rapids designed to serve families, with 26 two-bedroom and 22 three-bedroom apartments. The property has been in service since 2006 and receives financing through HOME funds and tax-exempt bonds. The development utilizes 4% Low-Income Housing Tax Credits to support its operation.
Property Details
Fair Market Rent - Eaton County, MI
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $847 |
| 1 Bedroom | $887 |
| 2 Bedroom | $1,092 |
| 3 Bedroom | $1,423 |
| 4 Bedroom | $1,454 |
Income Limits - Eaton County, MI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,650
- Very Low (50%)
- $27,700
- Low (80%)
- $44,350
- Extremely Low (30%)
- $19,000
- Very Low (50%)
- $31,650
- Low (80%)
- $50,650
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $35,600
- Low (80%)
- $57,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $39,550
- Low (80%)
- $63,300
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $42,750
- Low (80%)
- $68,400
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $45,900
- Low (80%)
- $73,450
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,050
- Low (80%)
- $78,500
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $52,250
- Low (80%)
- $83,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,650 | $27,700 | $44,350 |
| 2 Persons | $19,000 | $31,650 | $50,650 |
| 3 Persons | $21,960 | $35,600 | $57,000 |
| 4 Persons | $26,500 | $39,550 | $63,300 |
| 5 Persons | $31,040 | $42,750 | $68,400 |
| 6 Persons | $35,580 | $45,900 | $73,450 |
| 7 Persons | $40,120 | $49,050 | $78,500 |
| 8 Persons | $44,660 | $52,250 | $83,600 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Eaton Rapids, MI?+
The Fair Market Rent (FMR) for Eaton County, MI is: $847 (Studio), $887 (1BR), $1092 (2BR), $1423 (3BR), $1454 (4BR). Actual rent at subsidized properties like Island City Apts is typically 30% of household income or less.
What size apartments are available at Island City Apts?+
Island City Apts offers the following unit types: 26 Two-Bedroom, 22 Three-Bedroom units, for a total of 48 units.
How do I apply for housing at Island City Apts?+
Island City Apts 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.
Who is eligible to live at Island City Apts?+
Island City Apts primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What are the income limits for affordable housing in Eaton County, MI?+
For a 4-person household in Eaton County, MI, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $39,550, Low Income (80% AMI): $63,300. These limits are set by HUD and updated annually.
What is the price range for apartments in Eaton Rapids, MI?+
Based on Fair Market Rent for Eaton County, the estimated price range is: 2-bedroom: $1092, 3-bedroom: $1423. Actual rent at Island City Apts may be lower for income-eligible households.
Who manages Island City Apts?+
Island City Apts is managed by . You can reach them at .
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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