About This Property
School Square Apartments is a 17-unit affordable housing community in Albany, Minnesota that has served residents since 2000. The property contains 12 two-bedroom and 5 three-bedroom units designated for low-income households and is financed through the 9% Low-Income Housing Tax Credit program.
Property Details
Fair Market Rent - Stearns 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 | $877 |
| 1 Bedroom | $906 |
| 2 Bedroom | $1,155 |
| 3 Bedroom | $1,531 |
| 4 Bedroom | $1,820 |
Income Limits - Stearns County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,600
- Very Low (50%)
- $27,650
- Low (80%)
- $44,250
- Extremely Low (30%)
- $19,000
- Very Low (50%)
- $31,600
- Low (80%)
- $50,600
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $35,550
- Low (80%)
- $56,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $39,500
- Low (80%)
- $63,200
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $42,700
- Low (80%)
- $68,300
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $45,850
- Low (80%)
- $73,350
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,000
- Low (80%)
- $78,400
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $52,150
- Low (80%)
- $83,450
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,600 | $27,650 | $44,250 |
| 2 Persons | $19,000 | $31,600 | $50,600 |
| 3 Persons | $21,960 | $35,550 | $56,900 |
| 4 Persons | $26,500 | $39,500 | $63,200 |
| 5 Persons | $31,040 | $42,700 | $68,300 |
| 6 Persons | $35,580 | $45,850 | $73,350 |
| 7 Persons | $40,120 | $49,000 | $78,400 |
| 8 Persons | $44,660 | $52,150 | $83,450 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Albany, MN?+
The Fair Market Rent (FMR) for Stearns County, MN is: $877 (Studio), $906 (1BR), $1155 (2BR), $1531 (3BR), $1820 (4BR). Actual rent at subsidized properties like School Square Apartments is typically 30% of household income or less.
What size apartments are available at School Square Apartments?+
School Square Apartments offers the following unit types: 12 Two-Bedroom, 5 Three-Bedroom units, for a total of 17 units.
What are the income limits for affordable housing in Stearns County, MN?+
For a 4-person household in Stearns County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $39,500, Low Income (80% AMI): $63,200. These limits are set by HUD and updated annually.
What is the price range for apartments in Albany, MN?+
Based on Fair Market Rent for Stearns County, the estimated price range is: 2-bedroom: $1155, 3-bedroom: $1531. Actual rent at School Square Apartments may be lower for income-eligible households.
How do I apply for housing at School Square Apartments?+
School Square 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 School Square Apartments?+
School Square Apartments is managed by . You can reach them at .
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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