About This Property
Terraces of Geneva Crossing comprises 48 units in Lake Geneva, Wisconsin, including 24 low-income units available to qualifying residents. The property contains a mix of 24 one-bedroom and 24 two-bedroom units and has been in service since 2000. The development is financed through tax-exempt bonds and utilizes 4% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Walworth 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 | $751 |
| 1 Bedroom | $843 |
| 2 Bedroom | $1,108 |
| 3 Bedroom | $1,423 |
| 4 Bedroom | $1,787 |
Income Limits - Walworth County, WI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,550
- Very Low (50%)
- $27,550
- Low (80%)
- $44,100
- Extremely Low (30%)
- $18,900
- Very Low (50%)
- $31,500
- Low (80%)
- $50,400
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $35,450
- Low (80%)
- $56,700
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $39,350
- Low (80%)
- $62,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $42,500
- Low (80%)
- $68,000
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $45,650
- Low (80%)
- $73,050
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $48,800
- Low (80%)
- $78,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $51,950
- Low (80%)
- $83,100
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,550 | $27,550 | $44,100 |
| 2 Persons | $18,900 | $31,500 | $50,400 |
| 3 Persons | $21,960 | $35,450 | $56,700 |
| 4 Persons | $26,500 | $39,350 | $62,950 |
| 5 Persons | $31,040 | $42,500 | $68,000 |
| 6 Persons | $35,580 | $45,650 | $73,050 |
| 7 Persons | $40,120 | $48,800 | $78,100 |
| 8 Persons | $44,660 | $51,950 | $83,100 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Lake Geneva, WI?+
The Fair Market Rent (FMR) for Walworth County, WI is: $751 (Studio), $843 (1BR), $1108 (2BR), $1423 (3BR), $1787 (4BR). Actual rent at subsidized properties like Terraces of Geneva Crossing is typically 30% of household income or less.
What size apartments are available at Terraces of Geneva Crossing?+
Terraces of Geneva Crossing offers the following unit types: 24 One-Bedroom, 24 Two-Bedroom units, for a total of 48 units.
What is the price range for apartments in Lake Geneva, WI?+
Based on Fair Market Rent for Walworth County, the estimated price range is: 1-bedroom: $843, 2-bedroom: $1108. Actual rent at Terraces of Geneva Crossing may be lower for income-eligible households.
How do I apply for housing at Terraces of Geneva Crossing?+
Terraces of Geneva Crossing 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 Walworth County, WI?+
For a 4-person household in Walworth County, WI, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $39,350, Low Income (80% AMI): $62,950. These limits are set by HUD and updated annually.
Who manages Terraces of Geneva Crossing?+
Terraces of Geneva Crossing is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Car-Dependent
More Affordable Housing Near Terraces of Geneva Crossing
Sedgemeadow
Elkhorn, WI
48 Units
Walworth County Housing Authority
Elkhorn, WI
422 UnitsWalworth Apartments
Elkhorn, WI
139 UnitsHighlands of Geneva Crossing
Lake Geneva, WI
48 UnitsFirst Avenue Apts
Elkhorn, WI
40 UnitsGenoa Plaza Apts
Genoa City, WI
48 Units