About This Property
Lake Apts V contains 24 low-income units in Fargo, North Dakota, with a mix of one 1-bedroom, seventeen 2-bedroom, and six 3-bedroom apartments. The property has been in service since 1995 and receives 9% Low-Income Housing Tax Credit funding. For more information about this property, contact the management office.
Waitlist Information
Waitlist managed by Fargo Housing and Redevelopment Authority
Eligibility is based on income and household size, varying by rental. At least one household member must be 18 or older. Must qualify on citizenship or eligible immigrant status. Social security number information is required. Consent to application process and use of family information for verifications is needed.
Preferences include victims of domestic violence, current residents of Cass or Clay County, Mainstream-eligible households with disabilities, and individuals transitioning out of institutions or at risk of homelessness.
Waitlist data provided by section8waitlist.org
Updated May 9, 2026
Property Details
Fair Market Rent - Cass County, ND
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $656 |
| 1 Bedroom | $781 |
| 2 Bedroom | $944 |
| 3 Bedroom | $1,330 |
| 4 Bedroom | $1,602 |
Income Limits - Cass County, ND
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $19,200
- Very Low (50%)
- $32,000
- Low (80%)
- $51,150
- Extremely Low (30%)
- $21,950
- Very Low (50%)
- $36,550
- Low (80%)
- $58,450
- Extremely Low (30%)
- $24,700
- Very Low (50%)
- $41,100
- Low (80%)
- $65,750
- Extremely Low (30%)
- $27,400
- Very Low (50%)
- $45,650
- Low (80%)
- $73,050
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $49,350
- Low (80%)
- $78,900
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $53,000
- Low (80%)
- $84,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $56,650
- Low (80%)
- $90,600
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $60,300
- Low (80%)
- $96,450
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $19,200 | $32,000 | $51,150 |
| 2 Persons | $21,950 | $36,550 | $58,450 |
| 3 Persons | $24,700 | $41,100 | $65,750 |
| 4 Persons | $27,400 | $45,650 | $73,050 |
| 5 Persons | $31,040 | $49,350 | $78,900 |
| 6 Persons | $35,580 | $53,000 | $84,750 |
| 7 Persons | $40,120 | $56,650 | $90,600 |
| 8 Persons | $44,660 | $60,300 | $96,450 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Fargo, ND?+
The Fair Market Rent (FMR) for Cass County, ND is: $656 (Studio), $781 (1BR), $944 (2BR), $1330 (3BR), $1602 (4BR). Actual rent at subsidized properties like Lake Apts V is typically 30% of household income or less.
What size apartments are available at Lake Apts V?+
Lake Apts V offers the following unit types: 1 One-Bedroom, 17 Two-Bedroom, 6 Three-Bedroom units, for a total of 24 units.
What are the income limits for affordable housing in Cass County, ND?+
For a 4-person household in Cass County, ND, the income limits are: Extremely Low Income (30% AMI): $27,400, Very Low Income (50% AMI): $45,650, Low Income (80% AMI): $73,050. These limits are set by HUD and updated annually.
Is there a waitlist for Lake Apts V?+
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 price range for apartments in Fargo, ND?+
Based on Fair Market Rent for Cass County, the estimated price range is: 1-bedroom: $781, 2-bedroom: $944, 3-bedroom: $1330. Actual rent at Lake Apts V may be lower for income-eligible households.
Who manages Lake Apts V?+
Lake Apts V is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Lake Apts V?+
Lake Apts V 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.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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