About This Property
Island Place offers 127 apartments in Wausau with a mix of one- and two-bedroom units, of which 68 are designated as low-income housing. The property has been in service since 1989 and utilizes 9% Low-Income Housing Tax Credits. Management and leasing inquiries can be directed to the property contact information.
Waitlist Information
Waitlist managed by Wausau Community Development Agency
These homes range from 1 to 4 bedrooms and include single-family homes, duplexes, and a sixplex apartment. Rent is based on 30% of adjusted gross income, with water and sewer included and a utility allowance for gas/electricity; eligibility depends on annual household income.
A homeless waitlist preference was implemented in April 2020, and selected applicants were placed on the waiting list by random lottery. Eligibility requires household income not to exceed 50% of the median income for Marathon County.
Waitlist data provided by section8waitlist.org
Updated September 28, 2026
Property Details
Fair Market Rent - Marathon County, WI
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $691 |
| 1 Bedroom | $776 |
| 2 Bedroom | $1,020 |
| 3 Bedroom | $1,324 |
| 4 Bedroom | $1,358 |
Income Limits - Marathon County, WI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,700
- Very Low (50%)
- $27,800
- Low (80%)
- $44,450
- Extremely Low (30%)
- $19,050
- Very Low (50%)
- $31,750
- Low (80%)
- $50,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $35,700
- Low (80%)
- $57,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $39,650
- Low (80%)
- $63,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $42,850
- Low (80%)
- $68,550
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $46,000
- Low (80%)
- $73,650
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,200
- Low (80%)
- $78,700
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $52,350
- Low (80%)
- $83,800
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,700 | $27,800 | $44,450 |
| 2 Persons | $19,050 | $31,750 | $50,800 |
| 3 Persons | $21,960 | $35,700 | $57,150 |
| 4 Persons | $26,500 | $39,650 | $63,450 |
| 5 Persons | $31,040 | $42,850 | $68,550 |
| 6 Persons | $35,580 | $46,000 | $73,650 |
| 7 Persons | $40,120 | $49,200 | $78,700 |
| 8 Persons | $44,660 | $52,350 | $83,800 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Wausau, WI?+
The Fair Market Rent (FMR) for Marathon County, WI is: $691 (Studio), $776 (1BR), $1020 (2BR), $1324 (3BR), $1358 (4BR). Actual rent at subsidized properties like Island Place is typically 30% of household income or less.
What size apartments are available at Island Place?+
Island Place offers the following unit types: 25 One-Bedroom, 96 Two-Bedroom units, for a total of 127 units.
How do I apply for housing at Island Place?+
Island Place 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 is the price range for apartments in Wausau, WI?+
Based on Fair Market Rent for Marathon County, the estimated price range is: 1-bedroom: $776, 2-bedroom: $1020. Actual rent at Island Place may be lower for income-eligible households.
What are the income limits for affordable housing in Marathon County, WI?+
For a 4-person household in Marathon County, WI, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $39,650, Low Income (80% AMI): $63,450. These limits are set by HUD and updated annually.
Who manages Island Place?+
Island Place is managed by . You can reach them at . Visit their website for more information.
Is there a waitlist for Island Place?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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