About This Property
Lantern Park Apts Waverly is a 16-unit apartment community in Waverly, Iowa that serves low-income households. The property has been in service since 1992 and is located in Bremer County.
Waitlist Information
Waitlist managed by Iowa Northland Regional Housing Authority
Preferences are given to families with dependents under 18, elderly (62+), or disabled individuals who live or work within INRHA's jurisdiction of Bremer, Buchanan, Butler, Chickasaw, Grundy, and Black Hawk counties (excluding Waterloo, Cedar Falls, and Evansdale). The wait time for Public Housing is dependent on when a unit is vacated, and no specific timeframe is given.
Preference is given to families with dependents under 18, elderly (62+), or disabled individuals who live or work within INRHA's jurisdiction (Bremer, Buchanan, Butler, Chickasaw, Grundy, Black Hawk counties, excluding Waterloo, Cedar Falls, Evansdale).
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Bremer County, IA
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $650 |
| 1 Bedroom | $676 |
| 2 Bedroom | $888 |
| 3 Bedroom | $1,145 |
| 4 Bedroom | $1,183 |
Income Limits - Bremer County, IA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $18,650
- Very Low (50%)
- $31,050
- Low (80%)
- $49,700
- Extremely Low (30%)
- $21,300
- Very Low (50%)
- $35,500
- Low (80%)
- $56,800
- Extremely Low (30%)
- $23,950
- Very Low (50%)
- $39,950
- Low (80%)
- $63,900
- Extremely Low (30%)
- $26,600
- Very Low (50%)
- $44,350
- Low (80%)
- $70,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $47,900
- Low (80%)
- $76,650
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $51,450
- Low (80%)
- $82,350
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $55,000
- Low (80%)
- $88,000
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $58,550
- Low (80%)
- $93,700
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $18,650 | $31,050 | $49,700 |
| 2 Persons | $21,300 | $35,500 | $56,800 |
| 3 Persons | $23,950 | $39,950 | $63,900 |
| 4 Persons | $26,600 | $44,350 | $70,950 |
| 5 Persons | $31,040 | $47,900 | $76,650 |
| 6 Persons | $35,580 | $51,450 | $82,350 |
| 7 Persons | $40,120 | $55,000 | $88,000 |
| 8 Persons | $44,660 | $58,550 | $93,700 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Waverly, IA?+
The Fair Market Rent (FMR) for Bremer County, IA is: $650 (Studio), $676 (1BR), $888 (2BR), $1145 (3BR), $1183 (4BR). Actual rent at subsidized properties like Lantern Park Apts Waverly is typically 30% of household income or less.
What are the income limits for affordable housing in Bremer County, IA?+
For a 4-person household in Bremer County, IA, the income limits are: Extremely Low Income (30% AMI): $26,600, Very Low Income (50% AMI): $44,350, Low Income (80% AMI): $70,950. These limits are set by HUD and updated annually.
How do I apply for housing at Lantern Park Apts Waverly?+
Lantern Park Apts Waverly 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 Lantern Park Apts Waverly?+
Lantern Park Apts Waverly is managed by . You can reach them at . Visit their website for more information.
Is there a waitlist for Lantern Park Apts Waverly?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Open. 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
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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