About This Property
Homestead Village offers 102 low-income rental units in Rochester, Minnesota, comprising 82 two-bedroom and 20 three-bedroom apartments designed to serve families. The community has been in service since 1995 and is funded through 9% Low-Income Housing Tax Credits. Prospective residents should contact the property management office for current availability and application information.
Waitlist Information
Waitlist managed by Olmsted County Housing and Redevelopment Authority
The waiting list was last open for 2-bedroom Townhome units in July 2019, with preferences for working families, including elderly and disabled persons.
Applications are not being accepted. When current voucher holders leave the program, new households are offered assistance based on their position on the waiting list.
Waitlist data provided by section8waitlist.org
Updated June 18, 2026
Property Details
Fair Market Rent - Olmsted 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 | $814 |
| 1 Bedroom | $927 |
| 2 Bedroom | $1,148 |
| 3 Bedroom | $1,618 |
| 4 Bedroom | $1,948 |
Income Limits - Olmsted County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $20,950
- Very Low (50%)
- $34,900
- Low (80%)
- $55,850
- Extremely Low (30%)
- $23,950
- Very Low (50%)
- $39,900
- Low (80%)
- $63,800
- Extremely Low (30%)
- $26,950
- Very Low (50%)
- $44,900
- Low (80%)
- $71,800
- Extremely Low (30%)
- $29,900
- Very Low (50%)
- $49,850
- Low (80%)
- $79,750
- Extremely Low (30%)
- $32,300
- Very Low (50%)
- $53,850
- Low (80%)
- $86,150
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $57,850
- Low (80%)
- $92,550
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $61,850
- Low (80%)
- $98,900
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $65,850
- Low (80%)
- $105,300
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $20,950 | $34,900 | $55,850 |
| 2 Persons | $23,950 | $39,900 | $63,800 |
| 3 Persons | $26,950 | $44,900 | $71,800 |
| 4 Persons | $29,900 | $49,850 | $79,750 |
| 5 Persons | $32,300 | $53,850 | $86,150 |
| 6 Persons | $35,580 | $57,850 | $92,550 |
| 7 Persons | $40,120 | $61,850 | $98,900 |
| 8 Persons | $44,660 | $65,850 | $105,300 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Rochester, MN?+
The Fair Market Rent (FMR) for Olmsted County, MN is: $814 (Studio), $927 (1BR), $1148 (2BR), $1618 (3BR), $1948 (4BR). Actual rent at subsidized properties like Homestead Village is typically 30% of household income or less.
What size apartments are available at Homestead Village?+
Homestead Village offers the following unit types: 82 Two-Bedroom, 20 Three-Bedroom units, for a total of 102 units.
Is there a waitlist for Homestead Village?+
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.
What are the income limits for affordable housing in Olmsted County, MN?+
For a 4-person household in Olmsted County, MN, the income limits are: Extremely Low Income (30% AMI): $29,900, Very Low Income (50% AMI): $49,850, Low Income (80% AMI): $79,750. These limits are set by HUD and updated annually.
Who is eligible to live at Homestead Village?+
Homestead Village primarily serves families, No. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Homestead Village?+
Homestead Village is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Homestead Village?+
Homestead Village 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.
What is the price range for apartments in Rochester, MN?+
Based on Fair Market Rent for Olmsted County, the estimated price range is: 2-bedroom: $1148, 3-bedroom: $1618. Actual rent at Homestead Village may be lower for income-eligible households.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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