About This Property
Red Lake V comprises 17 low-income housing units in Red Lake, Minnesota, with a mix of twelve 3-bedroom and five 4-bedroom apartments designed to serve families. The property was placed in service in 2001 and is financed through the 9% Low-Income Housing Tax Credit program. This affordable housing community remains in operation to provide rental housing to eligible low-income households in Beltrami County.
Property Details
Fair Market Rent - Beltrami County, MN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $820 |
| 1 Bedroom | $851 |
| 2 Bedroom | $1,118 |
| 3 Bedroom | $1,352 |
| 4 Bedroom | $1,576 |
Income Limits - Beltrami County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,650
- Very Low (50%)
- $26,100
- Low (80%)
- $41,750
- Extremely Low (30%)
- $17,900
- Very Low (50%)
- $29,800
- Low (80%)
- $47,700
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $33,550
- Low (80%)
- $53,650
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $37,250
- Low (80%)
- $59,600
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $40,250
- Low (80%)
- $64,400
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $43,250
- Low (80%)
- $69,150
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $46,200
- Low (80%)
- $73,950
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $49,200
- Low (80%)
- $78,700
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,650 | $26,100 | $41,750 |
| 2 Persons | $17,900 | $29,800 | $47,700 |
| 3 Persons | $21,960 | $33,550 | $53,650 |
| 4 Persons | $26,500 | $37,250 | $59,600 |
| 5 Persons | $31,040 | $40,250 | $64,400 |
| 6 Persons | $35,580 | $43,250 | $69,150 |
| 7 Persons | $40,120 | $46,200 | $73,950 |
| 8 Persons | $44,660 | $49,200 | $78,700 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Red Lake, MN?+
The Fair Market Rent (FMR) for Beltrami County, MN is: $820 (Studio), $851 (1BR), $1118 (2BR), $1352 (3BR), $1576 (4BR). Actual rent at subsidized properties like Red Lake V is typically 30% of household income or less.
What size apartments are available at Red Lake V?+
Red Lake V offers the following unit types: 12 Three-Bedroom, 5 Four-Bedroom units, for a total of 17 units.
Who manages Red Lake V?+
Red Lake V is managed by . You can reach them at .
How do I apply for housing at Red Lake V?+
Red Lake V 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.
What are the income limits for affordable housing in Beltrami County, MN?+
For a 4-person household in Beltrami County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $37,250, Low Income (80% AMI): $59,600. These limits are set by HUD and updated annually.
What is the price range for apartments in Red Lake, MN?+
Based on Fair Market Rent for Beltrami County, the estimated price range is: 3-bedroom: $1352. Actual rent at Red Lake V may be lower for income-eligible households.
Who is eligible to live at Red Lake V?+
Red Lake V primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Almost All Errands Require a Car
More Affordable Housing Near Red Lake V
Red Lake Homes Vi
Red Lake, MN
19 UnitsRed Lake Homes
Red Lake, MN
16 UnitsWhite Earth Homes Iv
Mahnomen, MN
30 UnitsRedby Family Rental Project I
Redby, MN
20 UnitsRed Lake Homes Vii
Red Lake, MN
26 UnitsRed Lake Homes Ix
Red Lake, MN
48 Units