About This Property
Homestead Apartments comprises 120 units in Mankato, Minnesota, with 96 designated as low-income housing. The property, placed in service in 2000, offers a mix of one-bedroom, two-bedroom, and three-bedroom units financed through tax-exempt bonds and 4% Low-Income Housing Tax Credits. The community provides housing options across multiple unit sizes to serve families of varying composition.
Waitlist Information
Waitlist managed by Mankato Economic Development Authority
Open only to households meeting occupancy standards for 1, 3, 4, or 5 bedroom units; preferences for Blue Earth County residency, veteran status, displacement due to domestic violence, and elderly or disabled head/spouse/sole member; only one application per household.
When open, preferences included residency in specific counties, households with children under 18 in certain counties, veterans, and displacement due to natural disaster, government action, or domestic violence; applicant must not exceed the very low income limit.
Waitlist data provided by section8waitlist.org
Updated August 18, 2026
Property Details
HUD Inspection Score
HUD inspects properties on a 0-100 scale. Scores above 60 are considered passing.
Fair Market Rent - Blue Earth 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 | $897 |
| 1 Bedroom | $903 |
| 2 Bedroom | $1,101 |
| 3 Bedroom | $1,552 |
| 4 Bedroom | $1,868 |
Income Limits - Blue Earth County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,950
- Very Low (50%)
- $28,200
- Low (80%)
- $45,100
- Extremely Low (30%)
- $19,350
- Very Low (50%)
- $32,200
- Low (80%)
- $51,550
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $36,250
- Low (80%)
- $58,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,250
- Low (80%)
- $64,400
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $43,500
- Low (80%)
- $69,600
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $46,700
- Low (80%)
- $74,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,950
- Low (80%)
- $79,900
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $53,150
- Low (80%)
- $85,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,950 | $28,200 | $45,100 |
| 2 Persons | $19,350 | $32,200 | $51,550 |
| 3 Persons | $21,960 | $36,250 | $58,000 |
| 4 Persons | $26,500 | $40,250 | $64,400 |
| 5 Persons | $31,040 | $43,500 | $69,600 |
| 6 Persons | $35,580 | $46,700 | $74,750 |
| 7 Persons | $40,120 | $49,950 | $79,900 |
| 8 Persons | $44,660 | $53,150 | $85,050 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Mankato, MN?+
The Fair Market Rent (FMR) for Blue Earth County, MN is: $897 (Studio), $903 (1BR), $1101 (2BR), $1552 (3BR), $1868 (4BR). Actual rent at subsidized properties like Homestead Apartments is typically 30% of household income or less.
What size apartments are available at Homestead Apartments?+
Homestead Apartments offers the following unit types: 40 One-Bedroom, 64 Two-Bedroom, 16 Three-Bedroom units, for a total of 120 units.
What are the income limits for affordable housing in Blue Earth County, MN?+
For a 4-person household in Blue Earth County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,250, Low Income (80% AMI): $64,400. These limits are set by HUD and updated annually.
What is the HUD inspection score for Homestead Apartments?+
Homestead Apartments has a HUD inspection score of 95 out of 100, which is considered excellent. HUD inspects subsidized housing properties to ensure they meet minimum health and safety standards. Scores of 60 or above are considered passing.
How do I apply for housing at Homestead Apartments?+
Homestead Apartments 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.
Is there a waitlist for Homestead Apartments?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What is the price range for apartments in Mankato, MN?+
Based on Fair Market Rent for Blue Earth County, the estimated price range is: 1-bedroom: $903, 2-bedroom: $1101, 3-bedroom: $1552. Actual rent at Homestead Apartments may be lower for income-eligible households.
Who manages Homestead Apartments?+
Homestead Apartments is managed by . You can reach them at .
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Homestead Apartments
Blue Earth County Economic Development Authority
Mankato, MN
147 Units
Le Sueur County Housing and Redevelopment Authority
Mankato, MN
118 Units
Orness Plaza and Scattered Family Site
Mankato, MN
1 UnitsCherry Ridge Apartments
Mankato, MN
83 Units
Faribault County Housing and Redevelopment Authority
Mankato, MN
93 UnitsHomestead Apartments
Mankato, MN
120 Units