Phillips Towers Apartments
918 E 22nd St
Minneapolis, Hennepin County, Minnesota 55404

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Funding Programs

Phillips Towers Apartments was developed and operates with Federal housing financing. The property utilizes the Project Based Sec. 8 Federal housing program to make rent affordable to lower income tenants.

Section 8

Phillips Towers Apartments has a project-based Section 8 contract. 88 of the 107 total units at the property receive Section 8 assistance. This means that 82% of the renter households in the property pay no more than 30% of their adjusted income for rent.

The current Section 8 contract was effective on September 01, 2016 and the contract expires on August 31, 2017. The Section 8 contract rent is 84.3% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $813.00 for One Bedroom.

31% of Minnesota properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Overview

Phillips Towers Apartments is an affordable apartment community located in Minneapolis, Minnesota which is located in Hennepin County. The property is located in Minnesota's 5th Congressional District served by Representative Keith Ellison (D), Senator Alan Franken (D) and Senator Amy Klobuchar (D).

Phillips Towers Apartments is an apartment community containing 88 rental units. The property contains 88 bedrooms and based on typical apartment occupancy limits, Phillips Towers Apartments is home to not more than 132 persons when fully occupied.

Rent Subsidies

Phillips Towers Apartments provides rental subsidies to renters. The type of subsidy provided to apartment renters in Minneapolis, MN by this property is Project Based Sec. 8.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

Phillips Towers Apartments contains a mix of 88 assisted one bedroom apartments for rent. There are 88 One Bedroom apartments in this property. The unit mix is 100% One Bedroom apartment rentals. The average bedroom size for Phillips Towers Apartments is 0.82.

Minnesota's 5th

Congressional District

88

Total Units

88

Project Based Sec. 8 Units

84.3

% of Fair Market Rent

31-Aug-17

Project Based Sec. 8 Contract Expiration

One

Unit Mix

0.82

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data