About This Property
The Depot At Elk River Station comprises 53 low-income units in Elk River, Minnesota, with a unit mix of 11 one-bedroom, 26 two-bedroom, and 16 three-bedroom apartments. The property, which was placed in service in 2012, utilizes 9% Low-Income Housing Tax Credits and serves homeless populations. The development remains in operation under professional management.
Property Details
Fair Market Rent - Sherburne 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 - Sherburne 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 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Elk River, MN?+
The Fair Market Rent (FMR) for Sherburne County, MN is: $1174 (Studio), $1327 (1BR), $1622 (2BR), $2188 (3BR), $2478 (4BR). Actual rent at subsidized properties like The Depot At Elk River Station is typically 30% of household income or less.
What size apartments are available at The Depot At Elk River Station?+
The Depot At Elk River Station offers the following unit types: 11 One-Bedroom, 26 Two-Bedroom, 16 Three-Bedroom units, for a total of 53 units.
What are the income limits for affordable housing in Sherburne County, MN?+
For a 4-person household in Sherburne 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 The Depot At Elk River Station?+
The Depot At Elk River Station 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 Elk River, MN?+
Based on Fair Market Rent for Sherburne County, the estimated price range is: 1-bedroom: $1327, 2-bedroom: $1622, 3-bedroom: $2188. Actual rent at The Depot At Elk River Station may be lower for income-eligible households.
Who is eligible to live at The Depot At Elk River Station?+
The Depot At Elk River Station primarily serves formerly homeless individuals. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages The Depot At Elk River Station?+
The Depot At Elk River Station is managed by . You can reach them at .
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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