About This Property
Oakwood Terrace II comprises 24 units in Grand Rapids, Minnesota, with 23 units designated as low-income housing. The property, which entered service in 2000, features a mix of 16 two-bedroom and 8 three-bedroom apartments and utilizes 9% Low-Income Housing Tax Credit financing. The development is situated in Itasca County.
Waitlist Information
Waitlist managed by Itasca County Housing and Redevelopment Authority
Admission preferences are given to elderly (62+ years), near-elderly (50-61) and to disabled applicants (18+ years). Waiting time is determined by application date/time and bedroom size required. Applicants must respond annually to confirm continued interest.
A local preference is given to applicants who currently live, work, or have been hired to work, in Itasca County. Waiting time is determined based on priority and application date/time. Applicants must respond annually to confirm continued interest.
Waitlist data provided by section8waitlist.org
Updated April 17, 2026
Property Details
Fair Market Rent - Itasca 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 | $811 |
| 1 Bedroom | $817 |
| 2 Bedroom | $1,059 |
| 3 Bedroom | $1,280 |
| 4 Bedroom | $1,431 |
Income Limits - Itasca 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 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Grand Rapids, MN?+
The Fair Market Rent (FMR) for Itasca County, MN is: $811 (Studio), $817 (1BR), $1059 (2BR), $1280 (3BR), $1431 (4BR). Actual rent at subsidized properties like Oakwood Terrace Ii is typically 30% of household income or less.
What size apartments are available at Oakwood Terrace Ii?+
Oakwood Terrace Ii offers the following unit types: 16 Two-Bedroom, 8 Three-Bedroom units, for a total of 24 units.
How do I apply for housing at Oakwood Terrace Ii?+
Oakwood Terrace Ii 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 is the price range for apartments in Grand Rapids, MN?+
Based on Fair Market Rent for Itasca County, the estimated price range is: 2-bedroom: $1059, 3-bedroom: $1280. Actual rent at Oakwood Terrace Ii may be lower for income-eligible households.
What are the income limits for affordable housing in Itasca County, MN?+
For a 4-person household in Itasca 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.
Who manages Oakwood Terrace Ii?+
Oakwood Terrace Ii is managed by . You can reach them at .
Is there a waitlist for Oakwood Terrace Ii?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Open. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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