About This Property
The Minneapolis Portfolio Preservation (MP3) property consists of 582 low-income units serving families and homeless individuals across Hennepin County. The portfolio includes 402 studio units, 157 one-bedroom units, and 23 two-bedroom units, and has been in service since 2015. Financing includes HOME funds and tax-exempt bonds, with 4% LIHTC credit support.
Waitlist Information
Waitlist managed by Public Housing Authority in and for the City of Minneapolis
The Public Housing waitlist is currently closed. Information regarding future openings is not available on this page.
The Housing Choice Voucher (HCV) waitlist is currently closed. Information regarding future openings is not available on this page.
Waitlist data provided by section8waitlist.org
Updated May 8, 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 Minneapolis Portfolio Preservation (Mp3) is typically 30% of household income or less.
What size apartments are available at Minneapolis Portfolio Preservation (Mp3)?+
Minneapolis Portfolio Preservation (Mp3) offers the following unit types: 402 Studio, 157 One-Bedroom, 23 Two-Bedroom units, for a total of 582 units.
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. Actual rent at Minneapolis Portfolio Preservation (Mp3) may be lower for income-eligible households.
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 Minneapolis Portfolio Preservation (Mp3)?+
Minneapolis Portfolio Preservation (Mp3) 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.
Who is eligible to live at Minneapolis Portfolio Preservation (Mp3)?+
Minneapolis Portfolio Preservation (Mp3) primarily serves families, formerly homeless individuals. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Is there a waitlist for Minneapolis Portfolio Preservation (Mp3)?+
Public Housing waitlist is currently Closed. 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.
Who manages Minneapolis Portfolio Preservation (Mp3)?+
Minneapolis Portfolio Preservation (Mp3) is managed by . You can reach them at .
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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