About This Property
Gateway Village is a 36-unit affordable housing community in Frankfort, Michigan that has served low-income families since 2010. The property offers a mix of one-, two-, and three-bedroom units, with 8 one-bedroom, 20 two-bedroom, and 8 three-bedroom floor plans available. The development was financed through tax-exempt bonds and receives 4% Low-Income Housing Tax Credit support.
Property Details
Fair Market Rent - Benzie County, MI
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $790 |
| 1 Bedroom | $860 |
| 2 Bedroom | $1,130 |
| 3 Bedroom | $1,366 |
| 4 Bedroom | $1,555 |
Income Limits - Benzie County, MI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,750
- Very Low (50%)
- $24,600
- Low (80%)
- $39,350
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,100
- Low (80%)
- $44,950
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $31,600
- Low (80%)
- $50,550
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $35,100
- Low (80%)
- $56,150
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $37,950
- Low (80%)
- $60,650
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $40,750
- Low (80%)
- $65,150
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $43,550
- Low (80%)
- $69,650
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $46,350
- Low (80%)
- $74,150
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,750 | $24,600 | $39,350 |
| 2 Persons | $17,420 | $28,100 | $44,950 |
| 3 Persons | $21,960 | $31,600 | $50,550 |
| 4 Persons | $26,500 | $35,100 | $56,150 |
| 5 Persons | $31,040 | $37,950 | $60,650 |
| 6 Persons | $35,580 | $40,750 | $65,150 |
| 7 Persons | $40,120 | $43,550 | $69,650 |
| 8 Persons | $44,660 | $46,350 | $74,150 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Frankfort, MI?+
The Fair Market Rent (FMR) for Benzie County, MI is: $790 (Studio), $860 (1BR), $1130 (2BR), $1366 (3BR), $1555 (4BR). Actual rent at subsidized properties like Gateway Village is typically 30% of household income or less.
What size apartments are available at Gateway Village?+
Gateway Village offers the following unit types: 8 One-Bedroom, 20 Two-Bedroom, 8 Three-Bedroom units, for a total of 36 units.
What is the price range for apartments in Frankfort, MI?+
Based on Fair Market Rent for Benzie County, the estimated price range is: 1-bedroom: $860, 2-bedroom: $1130, 3-bedroom: $1366. Actual rent at Gateway Village may be lower for income-eligible households.
How do I apply for housing at Gateway Village?+
Gateway Village 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 is eligible to live at Gateway Village?+
Gateway Village primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Gateway Village?+
Gateway Village is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Benzie County, MI?+
For a 4-person household in Benzie County, MI, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $35,100, Low Income (80% AMI): $56,150. These limits are set by HUD and updated annually.
Walk Score
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Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.