Oak Creek Ltd

1660 Summit, Red Oak, Iowa 51566

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Oak Creek Ltd Details

  • 72 units.
  • Project-Based Rental Assistance

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.

Red Oak 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 Red Oak but actual income limits may differ for units at Oak Creek Ltd.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,600 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% $24,300 $27,800 $31,250 $34,700 $37,500 $40,300 $43,050 $45,850
80% $38,850 $44,400 $49,950 $55,500 $59,950 $64,400 $68,850 $73,300

These general income qualifications for Red Oak, Iowa should only be used as a basic guide. To find out if you qualify, contact the community directly.

You can usually make up to 80% of the Area Median Income (AMI) to be eligible for a HUD-Assisted Housing unit, but income qualification tiers for this community may be different due to various policies.

Oak Creek Ltd receives rental subsidies through HUD-Assisted Housing for some or all of its apartments. Some units may be designated as market rate housing. Market rate units would have no subsidies or income restrictions.

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