About This Property
Sheldon Place III is a 32-unit affordable housing community in Gaylord, Michigan that opened in 2015. The property contains 28 low-income units designed to serve elderly residents, with a mix of 15 one-bedroom and 17 two-bedroom floor plans. The development utilizes 9% Low-Income Housing Tax Credits to support its affordability.
Property Details
Fair Market Rent - Otsego 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 | $702 |
| 1 Bedroom | $764 |
| 2 Bedroom | $1,004 |
| 3 Bedroom | $1,347 |
| 4 Bedroom | $1,546 |
Income Limits - Otsego County, MI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,550
- Very Low (50%)
- $22,600
- Low (80%)
- $36,150
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,800
- Low (80%)
- $41,300
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $29,050
- Low (80%)
- $46,450
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $32,250
- Low (80%)
- $51,600
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,850
- Low (80%)
- $55,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $37,450
- Low (80%)
- $59,900
- Extremely Low (30%)
- $40,000
- Very Low (50%)
- $40,000
- Low (80%)
- $64,000
- Extremely Low (30%)
- $42,600
- Very Low (50%)
- $42,600
- Low (80%)
- $68,150
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,550 | $22,600 | $36,150 |
| 2 Persons | $17,420 | $25,800 | $41,300 |
| 3 Persons | $21,960 | $29,050 | $46,450 |
| 4 Persons | $26,500 | $32,250 | $51,600 |
| 5 Persons | $31,040 | $34,850 | $55,750 |
| 6 Persons | $35,580 | $37,450 | $59,900 |
| 7 Persons | $40,000 | $40,000 | $64,000 |
| 8 Persons | $42,600 | $42,600 | $68,150 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Gaylord, MI?+
The Fair Market Rent (FMR) for Otsego County, MI is: $702 (Studio), $764 (1BR), $1004 (2BR), $1347 (3BR), $1546 (4BR). Actual rent at subsidized properties like Sheldon Place Iii is typically 30% of household income or less.
What size apartments are available at Sheldon Place Iii?+
Sheldon Place Iii offers the following unit types: 15 One-Bedroom, 17 Two-Bedroom units, for a total of 32 units.
What are the income limits for affordable housing in Otsego County, MI?+
For a 4-person household in Otsego County, MI, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $32,250, Low Income (80% AMI): $51,600. These limits are set by HUD and updated annually.
How do I apply for housing at Sheldon Place Iii?+
Sheldon Place Iii 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 is the price range for apartments in Gaylord, MI?+
Based on Fair Market Rent for Otsego County, the estimated price range is: 1-bedroom: $764, 2-bedroom: $1004. Actual rent at Sheldon Place Iii may be lower for income-eligible households.
Who manages Sheldon Place Iii?+
Sheldon Place Iii is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Sheldon Place Iii?+
Sheldon Place Iii primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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