About This Property
Oakview Terrace Townhomes consists of 24 townhomes in North Branch that serve families with low incomes. The property offers 18 two-bedroom units and 6 three-bedroom units, with 18 units designated as low-income housing. Built in 2003 and financed through the 9% Low-Income Housing Tax Credit program, the community provides affordable rental options in Chisago County.
Property Details
Fair Market Rent - Chisago 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 | $1,174 |
| 1 Bedroom | $1,327 |
| 2 Bedroom | $1,622 |
| 3 Bedroom | $2,188 |
| 4 Bedroom | $2,478 |
Income Limits - Chisago County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $22,050
- Very Low (50%)
- $36,750
- Low (80%)
- $55,950
- Extremely Low (30%)
- $25,200
- Very Low (50%)
- $42,000
- Low (80%)
- $63,950
- Extremely Low (30%)
- $28,350
- Very Low (50%)
- $47,250
- Low (80%)
- $71,950
- Extremely Low (30%)
- $31,450
- Very Low (50%)
- $52,450
- Low (80%)
- $79,900
- Extremely Low (30%)
- $34,000
- Very Low (50%)
- $56,650
- Low (80%)
- $86,300
- Extremely Low (30%)
- $36,500
- Very Low (50%)
- $60,850
- Low (80%)
- $92,700
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $65,050
- Low (80%)
- $99,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $69,250
- Low (80%)
- $105,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $22,050 | $36,750 | $55,950 |
| 2 Persons | $25,200 | $42,000 | $63,950 |
| 3 Persons | $28,350 | $47,250 | $71,950 |
| 4 Persons | $31,450 | $52,450 | $79,900 |
| 5 Persons | $34,000 | $56,650 | $86,300 |
| 6 Persons | $36,500 | $60,850 | $92,700 |
| 7 Persons | $40,120 | $65,050 | $99,100 |
| 8 Persons | $44,660 | $69,250 | $105,500 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in North Branch, MN?+
The Fair Market Rent (FMR) for Chisago County, MN is: $1174 (Studio), $1327 (1BR), $1622 (2BR), $2188 (3BR), $2478 (4BR). Actual rent at subsidized properties like Oakview Terrace Townhomes is typically 30% of household income or less.
What size apartments are available at Oakview Terrace Townhomes?+
Oakview Terrace Townhomes offers the following unit types: 18 Two-Bedroom, 6 Three-Bedroom units, for a total of 24 units.
Who is eligible to live at Oakview Terrace Townhomes?+
Oakview Terrace Townhomes primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Oakview Terrace Townhomes?+
Oakview Terrace Townhomes 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 Chisago County, MN?+
For a 4-person household in Chisago County, MN, the income limits are: Extremely Low Income (30% AMI): $31,450, Very Low Income (50% AMI): $52,450, Low Income (80% AMI): $79,900. These limits are set by HUD and updated annually.
What is the price range for apartments in North Branch, MN?+
Based on Fair Market Rent for Chisago County, the estimated price range is: 2-bedroom: $1622, 3-bedroom: $2188. Actual rent at Oakview Terrace Townhomes may be lower for income-eligible households.
Who manages Oakview Terrace Townhomes?+
Oakview Terrace Townhomes 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.
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