About This Property
Traverse Woods Apts offers 128 low-income units in Petoskey, Michigan, with a mix of 64 one-bedroom and 64 two-bedroom apartments designed to serve families. The property has been in service since 2010 and was developed with HOME funding. This residence provides affordable housing options for eligible households in Emmet County.
Property Details
Fair Market Rent - Emmet 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 | $826 |
| 1 Bedroom | $900 |
| 2 Bedroom | $1,182 |
| 3 Bedroom | $1,429 |
| 4 Bedroom | $1,675 |
Income Limits - Emmet County, MI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,300
- Very Low (50%)
- $25,450
- Low (80%)
- $40,750
- Extremely Low (30%)
- $17,450
- Very Low (50%)
- $29,100
- Low (80%)
- $46,550
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,750
- Low (80%)
- $52,350
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,350
- Low (80%)
- $58,150
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $39,300
- Low (80%)
- $62,850
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $42,200
- Low (80%)
- $67,500
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $45,100
- Low (80%)
- $72,150
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $48,000
- Low (80%)
- $76,800
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,300 | $25,450 | $40,750 |
| 2 Persons | $17,450 | $29,100 | $46,550 |
| 3 Persons | $21,960 | $32,750 | $52,350 |
| 4 Persons | $26,500 | $36,350 | $58,150 |
| 5 Persons | $31,040 | $39,300 | $62,850 |
| 6 Persons | $35,580 | $42,200 | $67,500 |
| 7 Persons | $40,120 | $45,100 | $72,150 |
| 8 Persons | $44,660 | $48,000 | $76,800 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Petoskey, MI?+
The Fair Market Rent (FMR) for Emmet County, MI is: $826 (Studio), $900 (1BR), $1182 (2BR), $1429 (3BR), $1675 (4BR). Actual rent at subsidized properties like Traverse Woods Apts is typically 30% of household income or less.
What size apartments are available at Traverse Woods Apts?+
Traverse Woods Apts offers the following unit types: 64 One-Bedroom, 64 Two-Bedroom units, for a total of 128 units.
What are the income limits for affordable housing in Emmet County, MI?+
For a 4-person household in Emmet County, MI, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,350, Low Income (80% AMI): $58,150. These limits are set by HUD and updated annually.
Who is eligible to live at Traverse Woods Apts?+
Traverse Woods Apts primarily serves families. 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 Petoskey, MI?+
Based on Fair Market Rent for Emmet County, the estimated price range is: 1-bedroom: $900, 2-bedroom: $1182. Actual rent at Traverse Woods Apts may be lower for income-eligible households.
Who manages Traverse Woods Apts?+
Traverse Woods Apts is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Traverse Woods Apts?+
Traverse Woods Apts 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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