About This Property
Gerald Lance Apts comprises 18 two-bedroom units serving low-income households in Cleveland, Mississippi. The property was placed in service in 1990 and operates under 4% Low-Income Housing Tax Credit financing. All 18 units remain dedicated to affordable housing.
Property Details
Fair Market Rent - Bolivar County, MS
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $683 |
| 1 Bedroom | $687 |
| 2 Bedroom | $903 |
| 3 Bedroom | $1,120 |
| 4 Bedroom | $1,203 |
Income Limits - Bolivar County, MS
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $18,600
- Low (80%)
- $29,750
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $21,250
- Low (80%)
- $34,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $23,900
- Low (80%)
- $38,250
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $26,550
- Low (80%)
- $42,500
- Extremely Low (30%)
- $28,700
- Very Low (50%)
- $28,700
- Low (80%)
- $45,900
- Extremely Low (30%)
- $30,800
- Very Low (50%)
- $30,800
- Low (80%)
- $49,300
- Extremely Low (30%)
- $32,950
- Very Low (50%)
- $32,950
- Low (80%)
- $52,700
- Extremely Low (30%)
- $35,050
- Very Low (50%)
- $35,050
- Low (80%)
- $56,100
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $18,600 | $29,750 |
| 2 Persons | $17,420 | $21,250 | $34,000 |
| 3 Persons | $21,960 | $23,900 | $38,250 |
| 4 Persons | $26,500 | $26,550 | $42,500 |
| 5 Persons | $28,700 | $28,700 | $45,900 |
| 6 Persons | $30,800 | $30,800 | $49,300 |
| 7 Persons | $32,950 | $32,950 | $52,700 |
| 8 Persons | $35,050 | $35,050 | $56,100 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Cleveland, MS?+
The Fair Market Rent (FMR) for Bolivar County, MS is: $683 (Studio), $687 (1BR), $903 (2BR), $1120 (3BR), $1203 (4BR). Actual rent at subsidized properties like Gerald Lance Apts is typically 30% of household income or less.
What size apartments are available at Gerald Lance Apts?+
Gerald Lance Apts offers the following unit types: 18 Two-Bedroom units, for a total of 18 units.
What are the income limits for affordable housing in Bolivar County, MS?+
For a 4-person household in Bolivar County, MS, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $26,550, Low Income (80% AMI): $42,500. These limits are set by HUD and updated annually.
What is the price range for apartments in Cleveland, MS?+
Based on Fair Market Rent for Bolivar County, the estimated price range is: 2-bedroom: $903. Actual rent at Gerald Lance Apts may be lower for income-eligible households.
How do I apply for housing at Gerald Lance Apts?+
Gerald Lance Apts 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.
Who manages Gerald Lance Apts?+
Gerald Lance Apts is managed by . You can reach them at . Visit their website for more information.
Contact Information
Location
Bolivar County, MS
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