About This Property
Oak Terrace contains 12 low-income units in Ottumwa and serves families and individuals with disabilities. The property offers ten 3-bedroom and two 4-bedroom units, having been placed in service in 2004. Funding for this HOME-financed property includes 9% LIHTC credits.
Waitlist Information
Waitlist managed by Ottumwa Housing Authority
Applicants are placed on the waiting list by the date and time the pre-application is received, with preference points for current Ottumwa residents, disabled individuals, those 62 or older, victims of domestic violence, military/veterans, employed individuals, families with minor children, those terminated from HCV due to insufficient funds, or experiencing homelessness.
Effective February 24, 2025, Ottumwa Housing Authority is currently not issuing or absorbing new Housing Choice Vouchers until further notice. Incomplete applications will not be entered on wait list and will be returned back to the sender.
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Wapello 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 | $728 |
| 1 Bedroom | $759 |
| 2 Bedroom | $997 |
| 3 Bedroom | $1,219 |
| 4 Bedroom | $1,506 |
Income Limits - Wapello 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 Ottumwa, IA?+
The Fair Market Rent (FMR) for Wapello County, IA is: $728 (Studio), $759 (1BR), $997 (2BR), $1219 (3BR), $1506 (4BR). Actual rent at subsidized properties like Oak Terrace is typically 30% of household income or less.
What size apartments are available at Oak Terrace?+
Oak Terrace offers the following unit types: 10 Three-Bedroom, 2 Four-Bedroom units, for a total of 12 units.
What is the price range for apartments in Ottumwa, IA?+
Based on Fair Market Rent for Wapello County, the estimated price range is: 3-bedroom: $1219. Actual rent at Oak Terrace may be lower for income-eligible households.
Who is eligible to live at Oak Terrace?+
Oak Terrace primarily serves families, persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Oak Terrace?+
Oak Terrace 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 Wapello County, IA?+
For a 4-person household in Wapello 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.
Is there a waitlist for Oak Terrace?+
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.
Who manages Oak Terrace?+
Oak Terrace is managed by . You can reach them at . Visit their website for more 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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