Plymouth Avenue Townhouses
1500 Plymouth Ave N
Minneapolis, Hennepin County, Minnesota 55411

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Funding Programs

Plymouth Avenue Townhouses was developed and operates with Federal housing financing. The property utilizes 3 Federal housing programs to make rent affordable to lower income tenants. These programs are Section 515, Rural Development Rental Assistance, and Project Based Sec. 8.

Section 8

Plymouth Avenue Townhouses has a project-based Section 8 contract. 136 of the 136 total units at the property receive Section 8 assistance. This means that 100% 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 July 01, 2016 and the contract expires on June 30, 2036. The Section 8 contract rent is 106% 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, $1,027.00 for Two Bedroom, and $1,444.00 for Three 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.

Section 515

The property was constructed using the USDA Rural Development Section 515 Rural Rental Housing Program. The program provides low interest rates with longer amortization periods for rental housing built in rural areas of America. Plymouth Avenue Townhouses is among 540 Section 515 projects in Minnesota and 12,858 Section 515 projects in the United States.

Rural Development Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 515 properties, insures renters only pay 30% of their adjusted income toward rent. 40 apartment units at Plymouth Avenue Townhouses receive rental assistance. 29% of the units at Plymouth Avenue Townhouses have Rental Assistance. 62% of Minnesota Section 515 units and 65% of Section 515 units across the country are assisted with Rental Assistance.

Overview

Plymouth Avenue Townhouses 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).

Plymouth Avenue Townhouses is an apartment community containing 48 rental units. The property contains 116 bedrooms and based on typical apartment occupancy limits, Plymouth Avenue Townhouses is home to not more than 230 persons when fully occupied.

Rent Subsidies

Plymouth Avenue Townhouses provides rental subsidies to renters. The type of subsidy provided to apartment renters in Minneapolis, MN by this property is USDA Rental Assistance and 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. There is no minimum rent at this property for residents receiving a rent subsidy but in recent years, there has been discussions at USDA to implement a minimum rent in the USDA Rental Assistance Program to reduce cost burden on the Federal budget.

Unit Mix

Plymouth Avenue Townhouses contains a mix of 48 assisted one, two, and three bedroom apartments for rent. There are 4 One Bedroom, 20 Two Bedroom, and 24 Three Bedroom apartments in this property. The unit mix is 8% One Bedroom, 42% Two Bedroom, and 50% Three Bedroom apartment rentals. The average bedroom size for Plymouth Avenue Townhouses is 0.85.

Minnesota's 5th

Congressional District

48

Total Units

48

Section 515 Units

40

RD Rental Assistance Units

136

Project Based Sec. 8 Units

106

% of Fair Market Rent

30-Jun-36

Project Based Sec. 8 Contract Expiration

One, Two, and Three

Unit Mix

2.42

Average Bedroom Size

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