About This Property
Centennial Terrace offers 24 low-income units in Milaca, Minnesota, with a unit mix of twenty-three 1-bedroom and one 2-bedroom apartments. The property has been in service since 1994 and is managed by the property management company listed in the full details. Interested applicants can contact the management office for information about availability and the application process.
Property Details
Fair Market Rent - Mille Lacs 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 | $855 |
| 1 Bedroom | $861 |
| 2 Bedroom | $1,131 |
| 3 Bedroom | $1,440 |
| 4 Bedroom | $1,919 |
Income Limits - Mille Lacs 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 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Milaca, MN?+
The Fair Market Rent (FMR) for Mille Lacs County, MN is: $855 (Studio), $861 (1BR), $1131 (2BR), $1440 (3BR), $1919 (4BR). Actual rent at subsidized properties like Centennial Terrace is typically 30% of household income or less.
What size apartments are available at Centennial Terrace?+
Centennial Terrace offers the following unit types: 23 One-Bedroom, 1 Two-Bedroom units, for a total of 24 units.
What is the price range for apartments in Milaca, MN?+
Based on Fair Market Rent for Mille Lacs County, the estimated price range is: 1-bedroom: $861, 2-bedroom: $1131. Actual rent at Centennial Terrace may be lower for income-eligible households.
Who manages Centennial Terrace?+
Centennial Terrace is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Mille Lacs County, MN?+
For a 4-person household in Mille Lacs 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.
How do I apply for housing at Centennial Terrace?+
Centennial Terrace 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
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.