About This Property
Bois Forte Homes III comprises 20 low-income residential units in Tower, Minnesota, with a mix of ten 2-bedroom and twenty 4-bedroom apartments. The property was placed in service in 2018 and is financed through 9% Low-Income Housing Tax Credits. The development serves families and individuals with disabilities.
Property Details
Fair Market Rent - St. Louis 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 | $762 |
| 1 Bedroom | $868 |
| 2 Bedroom | $1,113 |
| 3 Bedroom | $1,485 |
| 4 Bedroom | $1,889 |
Income Limits - St. Louis County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,050
- Very Low (50%)
- $26,750
- Low (80%)
- $42,750
- Extremely Low (30%)
- $18,350
- Very Low (50%)
- $30,550
- Low (80%)
- $48,850
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,350
- Low (80%)
- $54,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,150
- Low (80%)
- $61,050
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,250
- Low (80%)
- $65,950
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,300
- Low (80%)
- $70,850
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,350
- Low (80%)
- $75,750
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,400
- Low (80%)
- $80,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,050 | $26,750 | $42,750 |
| 2 Persons | $18,350 | $30,550 | $48,850 |
| 3 Persons | $21,960 | $34,350 | $54,950 |
| 4 Persons | $26,500 | $38,150 | $61,050 |
| 5 Persons | $31,040 | $41,250 | $65,950 |
| 6 Persons | $35,580 | $44,300 | $70,850 |
| 7 Persons | $40,120 | $47,350 | $75,750 |
| 8 Persons | $44,660 | $50,400 | $80,600 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Tower, MN?+
The Fair Market Rent (FMR) for St. Louis County, MN is: $762 (Studio), $868 (1BR), $1113 (2BR), $1485 (3BR), $1889 (4BR). Actual rent at subsidized properties like Bois Forte Homes Iii is typically 30% of household income or less.
What size apartments are available at Bois Forte Homes Iii?+
Bois Forte Homes Iii offers the following unit types: 10 Two-Bedroom, 20 Four-Bedroom units, for a total of 20 units.
What is the price range for apartments in Tower, MN?+
Based on Fair Market Rent for St. Louis County, the estimated price range is: 2-bedroom: $1113. Actual rent at Bois Forte Homes Iii may be lower for income-eligible households.
How do I apply for housing at Bois Forte Homes Iii?+
Bois Forte Homes Iii 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 are the income limits for affordable housing in St. Louis County, MN?+
For a 4-person household in St. Louis County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,150, Low Income (80% AMI): $61,050. These limits are set by HUD and updated annually.
Who is eligible to live at Bois Forte Homes Iii?+
Bois Forte Homes Iii primarily serves families, persons with disabilities, Drugs. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Bois Forte Homes Iii?+
Bois Forte Homes Iii is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Almost All Errands Require a Car