Trailside Apartments and Townhomes, located at 210 E Front St in Albert Lea, has one, two and three bedroom apartments. Trailside Apartments and Townhomes participates in the Low-Income Housing Tax Credit (LIHTC) and Section 8 Project-Based Rental Assistance programs.
|1 Bedroom Apartment (1/1)||536||Income Based|
|1 Bedroom Townhome (1/1)||676||$445|
|2 Bedroom Apartment (2/1)||841||Income Based|
|2 Bedroom Townhome (2/1)||946||$545|
|3 Bedroom townhome (3/1)||1,123||Income Based|
Trailside Apartments are offered exclusively to seniors and disabled residents and house a variety of features for everyone such as a fully-equipped community room, second floor balcony and laundry room. A guest room is available for family members when they come to visit. All utilities are INCLUDED in rent. Beautiful property next to the city pool.
Trailside Townhomes offer affordable family living in a spacious environment. Each townhome includes its own patio and private entrances. Located just blocks from the downtown area, you will be minutes from shopping, schools and restaurants. A security deposit equal to one month of rent will be due at time of lease signing.
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.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.
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 Albert Lea but actual income limits may differ for units at Trailside Apartments and Townhomes.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$25,350||$29,000||$32,600||$36,200||$39,100||$42,000||$44,900||$47,800|
|Low Income (60%)||$30,420||$34,800||$39,120||$43,440||$46,920||$50,400||$53,880||$57,360|
Trailside Apartments and Townhomes was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
Trailside Apartments and Townhomes is managed by Lloyd Management.