About This Property
Bois Forte Homes III contains 20 low-income units in Tower, Minnesota and has been in service since 2018. The property includes ten 2-bedroom and twenty 4-bedroom units designed to serve families and disabled residents. The development utilizes 9% Low-Income Housing Tax Credits and is managed for affordable housing purposes.
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.
Who manages Bois Forte Homes Iii?+
Bois Forte Homes Iii is managed by . You can reach them at .
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.
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 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.
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.
Walk Score
Almost All Errands Require a Car