About This Property
Cottonwood Apartments comprises 24 one-bedroom units in Spicer, Minnesota, with 23 units designated as low-income housing. The property, which has been in service since 1996, receives 4% Low-Income Housing Tax Credit funding. Management services are available upon inquiry.
Property Details
Fair Market Rent - Kandiyohi 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 | $768 |
| 1 Bedroom | $773 |
| 2 Bedroom | $936 |
| 3 Bedroom | $1,319 |
| 4 Bedroom | $1,544 |
Income Limits - Kandiyohi County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,800
- Very Low (50%)
- $26,350
- Low (80%)
- $42,150
- Extremely Low (30%)
- $18,050
- Very Low (50%)
- $30,100
- Low (80%)
- $48,150
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $33,850
- Low (80%)
- $54,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $37,600
- Low (80%)
- $60,150
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $40,650
- Low (80%)
- $65,000
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $43,650
- Low (80%)
- $69,800
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $46,650
- Low (80%)
- $74,600
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $49,650
- Low (80%)
- $79,400
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,800 | $26,350 | $42,150 |
| 2 Persons | $18,050 | $30,100 | $48,150 |
| 3 Persons | $21,960 | $33,850 | $54,150 |
| 4 Persons | $26,500 | $37,600 | $60,150 |
| 5 Persons | $31,040 | $40,650 | $65,000 |
| 6 Persons | $35,580 | $43,650 | $69,800 |
| 7 Persons | $40,120 | $46,650 | $74,600 |
| 8 Persons | $44,660 | $49,650 | $79,400 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Spicer, MN?+
The Fair Market Rent (FMR) for Kandiyohi County, MN is: $768 (Studio), $773 (1BR), $936 (2BR), $1319 (3BR), $1544 (4BR). Actual rent at subsidized properties like Cottonwood Apartments is typically 30% of household income or less.
What size apartments are available at Cottonwood Apartments?+
Cottonwood Apartments offers the following unit types: 24 One-Bedroom units, for a total of 24 units.
What are the income limits for affordable housing in Kandiyohi County, MN?+
For a 4-person household in Kandiyohi County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $37,600, Low Income (80% AMI): $60,150. These limits are set by HUD and updated annually.
How do I apply for housing at Cottonwood Apartments?+
Cottonwood Apartments 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.
Who manages Cottonwood Apartments?+
Cottonwood Apartments is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Spicer, MN?+
Based on Fair Market Rent for Kandiyohi County, the estimated price range is: 1-bedroom: $773. Actual rent at Cottonwood Apartments may be lower for income-eligible households.
Contact Information
Walk Score
Car-Dependent
More Affordable Housing Near Cottonwood Apartments
Mcleod County Housing and Redevelopment Authority
Willmar, MN
121 UnitsSomerset, Eagle Ridge, - Waters Edge Apts
Willmar, MN
144 UnitsValleyside Townhomes
Willmar, MN
48 UnitsDana Heights Apartments
Willmar, MN
48 UnitsWestwind Townhomes
Willmar, MN
28 UnitsValleyside Townhomes
Willmar, MN
48 Units