About This Property
Franklin Place Apts comprises 34 low-income units in Monmouth, Oregon, serving families and elderly residents. The property includes 17 one-bedroom, 14 two-bedroom, and 3 three-bedroom units and has been in service since 1992. This development utilizes 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Polk County, OR
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $997 |
| 1 Bedroom | $1,053 |
| 2 Bedroom | $1,340 |
| 3 Bedroom | $1,888 |
| 4 Bedroom | $2,095 |
Income Limits - Polk County, OR
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,850
- Very Low (50%)
- $24,750
- Low (80%)
- $39,600
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,300
- Low (80%)
- $45,250
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $31,850
- Low (80%)
- $50,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $35,350
- Low (80%)
- $56,550
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,200
- Low (80%)
- $61,100
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,050
- Low (80%)
- $65,600
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $43,850
- Low (80%)
- $70,150
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $46,700
- Low (80%)
- $74,650
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,850 | $24,750 | $39,600 |
| 2 Persons | $17,420 | $28,300 | $45,250 |
| 3 Persons | $21,960 | $31,850 | $50,900 |
| 4 Persons | $26,500 | $35,350 | $56,550 |
| 5 Persons | $31,040 | $38,200 | $61,100 |
| 6 Persons | $35,580 | $41,050 | $65,600 |
| 7 Persons | $40,120 | $43,850 | $70,150 |
| 8 Persons | $44,660 | $46,700 | $74,650 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Monmouth, OR?+
The Fair Market Rent (FMR) for Polk County, OR is: $997 (Studio), $1053 (1BR), $1340 (2BR), $1888 (3BR), $2095 (4BR). Actual rent at subsidized properties like Franklin Place Apts is typically 30% of household income or less.
What size apartments are available at Franklin Place Apts?+
Franklin Place Apts offers the following unit types: 17 One-Bedroom, 14 Two-Bedroom, 3 Three-Bedroom units, for a total of 34 units.
How do I apply for housing at Franklin Place Apts?+
Franklin Place 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.
What are the income limits for affordable housing in Polk County, OR?+
For a 4-person household in Polk County, OR, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $35,350, Low Income (80% AMI): $56,550. These limits are set by HUD and updated annually.
Who manages Franklin Place Apts?+
Franklin Place Apts is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Franklin Place Apts?+
Franklin Place Apts primarily serves families, elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Monmouth, OR?+
Based on Fair Market Rent for Polk County, the estimated price range is: 1-bedroom: $1053, 2-bedroom: $1340, 3-bedroom: $1888. Actual rent at Franklin Place Apts 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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