About This Property
Chesapeake Apts II offers 24 low-income units in Mt. Pleasant, Iowa, comprising sixteen 2-bedroom and eight 3-bedroom apartments. The property has been in service since 1998 and is funded through 9% Low-Income Housing Tax Credits. The community serves families and individuals with disabilities.
Property Details
Fair Market Rent - Henry 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 | $641 |
| 1 Bedroom | $682 |
| 2 Bedroom | $877 |
| 3 Bedroom | $1,214 |
| 4 Bedroom | $1,293 |
Income Limits - Henry County, IA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,100
- Very Low (50%)
- $25,150
- Low (80%)
- $40,250
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,750
- Low (80%)
- $46,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,350
- Low (80%)
- $51,750
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $35,900
- Low (80%)
- $57,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,800
- Low (80%)
- $62,050
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,650
- Low (80%)
- $66,650
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,550
- Low (80%)
- $71,250
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,400
- Low (80%)
- $75,850
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,100 | $25,150 | $40,250 |
| 2 Persons | $17,420 | $28,750 | $46,000 |
| 3 Persons | $21,960 | $32,350 | $51,750 |
| 4 Persons | $26,500 | $35,900 | $57,450 |
| 5 Persons | $31,040 | $38,800 | $62,050 |
| 6 Persons | $35,580 | $41,650 | $66,650 |
| 7 Persons | $40,120 | $44,550 | $71,250 |
| 8 Persons | $44,660 | $47,400 | $75,850 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Mt Pleasant, IA?+
The Fair Market Rent (FMR) for Henry County, IA is: $641 (Studio), $682 (1BR), $877 (2BR), $1214 (3BR), $1293 (4BR). Actual rent at subsidized properties like Chesapeake Apts Ii is typically 30% of household income or less.
What size apartments are available at Chesapeake Apts Ii?+
Chesapeake Apts Ii offers the following unit types: 16 Two-Bedroom, 8 Three-Bedroom units, for a total of 24 units.
Who manages Chesapeake Apts Ii?+
Chesapeake Apts Ii is managed by . You can reach them at .
How do I apply for housing at Chesapeake Apts Ii?+
Chesapeake Apts Ii is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , 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 Henry County, IA?+
For a 4-person household in Henry County, IA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $35,900, Low Income (80% AMI): $57,450. These limits are set by HUD and updated annually.
What is the price range for apartments in Mt Pleasant, IA?+
Based on Fair Market Rent for Henry County, the estimated price range is: 2-bedroom: $877, 3-bedroom: $1214. Actual rent at Chesapeake Apts Ii may be lower for income-eligible households.
Who is eligible to live at Chesapeake Apts Ii?+
Chesapeake Apts Ii primarily serves families, persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
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Nearby Schools
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