About This Property
Homestead Apartments comprises 120 units in Mankato, Minnesota, with 96 designated as low-income housing. The property, placed in service in 2000, offers a mix of one-bedroom, two-bedroom, and three-bedroom units financed through tax-exempt bonds and 4% Low-Income Housing Tax Credits. The community provides housing options across multiple unit sizes to serve families of varying composition.
Waitlist Information
Waitlist managed by Mankato Economic Development Authority
Waiting list is open for 1, 3, 4, or 5 bedroom units. Preferences are given to households where the head or co-head lives, works, or attends school in Blue Earth County, veterans, and those displaced by domestic violence. Only one application per household is allowed; multiple submissions will result in disqualification.
The program was open only to households qualifying for preferences, including residency in Blue Earth, Pipestone, or Rock County, households with children 18 and under in specific counties, veterans, and those displaced by disaster, government action, or domestic violence. Applicants must not exceed the very low income limit. A random sort of eligible applications was conducted. Only one application per household was accepted.
Waitlist data provided by section8waitlist.org
Updated September 5, 2026
Property Details
HUD Inspection Score
HUD inspects properties on a 0-100 scale. Scores above 60 are considered passing.
Fair Market Rent - Blue Earth County, MN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $897 |
| 1 Bedroom | $903 |
| 2 Bedroom | $1,101 |
| 3 Bedroom | $1,552 |
| 4 Bedroom | $1,868 |
Income Limits - Blue Earth County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,950
- Very Low (50%)
- $28,200
- Low (80%)
- $45,100
- Extremely Low (30%)
- $19,350
- Very Low (50%)
- $32,200
- Low (80%)
- $51,550
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $36,250
- Low (80%)
- $58,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,250
- Low (80%)
- $64,400
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $43,500
- Low (80%)
- $69,600
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $46,700
- Low (80%)
- $74,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,950
- Low (80%)
- $79,900
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $53,150
- Low (80%)
- $85,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,950 | $28,200 | $45,100 |
| 2 Persons | $19,350 | $32,200 | $51,550 |
| 3 Persons | $21,960 | $36,250 | $58,000 |
| 4 Persons | $26,500 | $40,250 | $64,400 |
| 5 Persons | $31,040 | $43,500 | $69,600 |
| 6 Persons | $35,580 | $46,700 | $74,750 |
| 7 Persons | $40,120 | $49,950 | $79,900 |
| 8 Persons | $44,660 | $53,150 | $85,050 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Mankato, MN?+
The Fair Market Rent (FMR) for Blue Earth County, MN is: $897 (Studio), $903 (1BR), $1101 (2BR), $1552 (3BR), $1868 (4BR). Actual rent at subsidized properties like Homestead Apartments is typically 30% of household income or less.
What size apartments are available at Homestead Apartments?+
Homestead Apartments offers the following unit types: 40 One-Bedroom, 64 Two-Bedroom, 16 Three-Bedroom units, for a total of 120 units.
What is the price range for apartments in Mankato, MN?+
Based on Fair Market Rent for Blue Earth County, the estimated price range is: 1-bedroom: $903, 2-bedroom: $1101, 3-bedroom: $1552. Actual rent at Homestead Apartments may be lower for income-eligible households.
How do I apply for housing at Homestead Apartments?+
Homestead Apartments 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.
Who manages Homestead Apartments?+
Homestead Apartments is managed by . You can reach them at .
Is there a waitlist for Homestead Apartments?+
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.
What is the HUD inspection score for Homestead Apartments?+
Homestead Apartments has a HUD inspection score of 95 out of 100, which is considered excellent. HUD inspects subsidized housing properties to ensure they meet minimum health and safety standards. Scores of 60 or above are considered passing.
What are the income limits for affordable housing in Blue Earth County, MN?+
For a 4-person household in Blue Earth County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,250, Low Income (80% AMI): $64,400. These limits are set by HUD and updated annually.
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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