Mitchellville Park Apartments

401 Center Ave S, Mitchellville, Iowa 50169

24 units

Waiting List is Open Now

Mitchellville Park Apartments waiting list is open.

Last updated on April 7th, 2021

Mitchellville Park Apartments Details

  • 24 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 515 Rural Rental Housing
  • Section 521 USDA Rental Assistance

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Mitchellville HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Mitchellville but actual income limits may differ for units at Mitchellville Park Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $15,100 $17,420 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% $25,150 $28,750 $32,350 $35,900 $38,800 $41,650 $44,550 $47,400
80% $40,250 $46,000 $51,750 $57,450 $62,050 $66,650 $71,250 $75,850

Mitchellville Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Mitchellville but actual income limits may differ for units at Mitchellville Park Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $25,150 $28,750 $32,350 $35,900 $38,800 $41,650 $44,550 $47,400
Low Income (60%) $30,180 $34,500 $38,820 $43,080 $46,560 $49,980 $53,460 $56,880

Mitchellville Park Apartments is managed by Truverse Management.