About This Property
Somerset Villas comprises 24 low-income rental units in Somerset, Wisconsin, with a mix of one-, two-, and three-bedroom floor plans. The property was placed in service in 1998 and operates under 9% Low-Income Housing Tax Credit financing. The unit breakdown includes 2 one-bedroom, 14 two-bedroom, and 8 three-bedroom apartments.
Property Details
Fair Market Rent - St. Croix 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 | $1,174 |
| 1 Bedroom | $1,327 |
| 2 Bedroom | $1,622 |
| 3 Bedroom | $2,188 |
| 4 Bedroom | $2,478 |
Income Limits - St. Croix County, WI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $22,050
- Very Low (50%)
- $36,750
- Low (80%)
- $55,950
- Extremely Low (30%)
- $25,200
- Very Low (50%)
- $42,000
- Low (80%)
- $63,950
- Extremely Low (30%)
- $28,350
- Very Low (50%)
- $47,250
- Low (80%)
- $71,950
- Extremely Low (30%)
- $31,450
- Very Low (50%)
- $52,450
- Low (80%)
- $79,900
- Extremely Low (30%)
- $34,000
- Very Low (50%)
- $56,650
- Low (80%)
- $86,300
- Extremely Low (30%)
- $36,500
- Very Low (50%)
- $60,850
- Low (80%)
- $92,700
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $65,050
- Low (80%)
- $99,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $69,250
- Low (80%)
- $105,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $22,050 | $36,750 | $55,950 |
| 2 Persons | $25,200 | $42,000 | $63,950 |
| 3 Persons | $28,350 | $47,250 | $71,950 |
| 4 Persons | $31,450 | $52,450 | $79,900 |
| 5 Persons | $34,000 | $56,650 | $86,300 |
| 6 Persons | $36,500 | $60,850 | $92,700 |
| 7 Persons | $40,120 | $65,050 | $99,100 |
| 8 Persons | $44,660 | $69,250 | $105,500 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Somerset, WI?+
The Fair Market Rent (FMR) for St. Croix County, WI is: $1174 (Studio), $1327 (1BR), $1622 (2BR), $2188 (3BR), $2478 (4BR). Actual rent at subsidized properties like Somerset Villas is typically 30% of household income or less.
What size apartments are available at Somerset Villas?+
Somerset Villas offers the following unit types: 2 One-Bedroom, 14 Two-Bedroom, 8 Three-Bedroom units, for a total of 24 units.
What is the price range for apartments in Somerset, WI?+
Based on Fair Market Rent for St. Croix County, the estimated price range is: 1-bedroom: $1327, 2-bedroom: $1622, 3-bedroom: $2188. Actual rent at Somerset Villas may be lower for income-eligible households.
How do I apply for housing at Somerset Villas?+
Somerset Villas 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 Somerset Villas?+
Somerset Villas is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in St. Croix County, WI?+
For a 4-person household in St. Croix County, WI, the income limits are: Extremely Low Income (30% AMI): $31,450, Very Low Income (50% AMI): $52,450, Low Income (80% AMI): $79,900. These limits are set by HUD and updated annually.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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