About This Property
Five15 on the Park is a 259-unit affordable housing community in Minneapolis that includes 130 low-income units serving residents with disabilities. The property, placed in service in 2015, offers a mix of studio, one-bedroom, two-bedroom, and three-bedroom units. Financing includes 4% Low-Income Housing Tax Credits and tax-exempt bonds.
Waitlist Information
Waitlist managed by Public Housing Authority in and for the City of Minneapolis
This waitlist is for 1- or 2-person households where the head of household is 62 years old and up. Household income cannot exceed 80% of the Area Median Income.
The Housing Choice Voucher waitlist is currently closed for new applications. Applicants are eligible if their income is 50% or below of the Area Median Income. Eligibility also requires meeting income guidelines, qualifying as elderly, disabled, or a family, and U.S. citizenship or eligible immigration status.
Waitlist data provided by section8waitlist.org
Updated May 28, 2026
Property Details
Fair Market Rent - Hennepin 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 - Hennepin 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 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Minneapolis, MN?+
The Fair Market Rent (FMR) for Hennepin County, MN is: $1174 (Studio), $1327 (1BR), $1622 (2BR), $2188 (3BR), $2478 (4BR). Actual rent at subsidized properties like Five15 on the Park is typically 30% of household income or less.
What size apartments are available at Five15 on the Park?+
Five15 on the Park offers the following unit types: 16 Studio, 125 One-Bedroom, 92 Two-Bedroom, 26 Three-Bedroom units, for a total of 259 units.
Who manages Five15 on the Park?+
Five15 on the Park is managed by . You can reach them at . Visit their website for more information.
Is there a waitlist for Five15 on the Park?+
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 Minneapolis, MN?+
Based on Fair Market Rent for Hennepin County, the estimated price range is: 1-bedroom: $1327, 2-bedroom: $1622, 3-bedroom: $2188. Actual rent at Five15 on the Park may be lower for income-eligible households.
Who is eligible to live at Five15 on the Park?+
Five15 on the Park primarily serves persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What are the income limits for affordable housing in Hennepin County, MN?+
For a 4-person household in Hennepin 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.
How do I apply for housing at Five15 on the Park?+
Five15 on the Park 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.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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