Franklin Lane Apartments

1827 S Ferry St, Anoka, MN 55303

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Lorena Bentley
Rent Beds Baths SqFt
Call for Rents 1 - 2 Beds 1 Bath 560 - 835 Sq Ft
check_circle  Accepts Section 8 Housing Choice Vouchers (HCV)
check_circle  Affordable

Waitlist Forecast

Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Franklin Lane has 1 and 2 bedroom apartments and offers seniors friendly, accessible carefree living at an affordable price. All utiliites are included in the rent except for a small monthly charge for a/c usage during the summer months. Located just three blocks from downtown Anoka, restaurants and shopping are all within walking distance of Franklin Lane, giving residents all the convenience and comfort of a small town atmosphere. The monthly newsletter informs you of organized daily activities and events going on in all three of the community rooms, which can also be used for personal entertaining. Rental assistance is available to those who qualify. Please call today for additional information.

Dave's Thoughts On Franklin Lane Apartments

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Franklin Lane Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Franklin Lane Apartments Amenities

  • Many Activities
  • Community Room
  • Close to Downtown District
  • Close to Shopping
  • Utilities Included
  • Nearby Parks and Recreation
  • Spacious floor plans
  • Laundry Facility

Units at Franklin Lane Apartments

Unit (Bd/Ba) Ft2 Rent
One Bedroom One Bath (1/1) 560ft2 Call for Price
Two Bedroom One Bath (2/1) 835ft2 Call for Price

Income Qualification for Franklin Lane Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
AMI* 1 person 2 people 3 people 4 people
30% AMI for PBRA Units $26,100 / year $29,800 / year $33,550 / year $37,250 / year
50% AMI for LIHTC Units $43,500 / year $49,700 / year $55,900 / year $62,100 / year
50% AMI for PBRA Units $43,500 / year $49,700 / year $55,900 / year $62,100 / year
60% AMI for LIHTC Units $52,200 / year $59,640 / year $67,080 / year $74,520 / year
80% AMI for PBRA Units $66,300 / year $75,750 / year $85,200 / year $94,650 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Franklin Lane Apartments

Does Franklin Lane Apartments have a waiting list?

Franklin Lane Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Franklin Lane Apartments?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

What property management company manges Franklin Lane Apartments?

Franklin Lane Apartments is managed by Trellis Management Company headquartered in Minneapolis, Minnesota.

In addition to Franklin Lane Apartments, how many other affordable housing properties (and units) are there in Anoka?

In addition to Franklin Lane Apartments, we list 14 other affordable properties in Anoka. Learn about these properties here. Our data research shows that there are a total of 404 affordable units in Anoka.

When was the Franklin Lane Apartments listing last updated?

Franklin Lane Apartments listing on Affordable Housing Online was last updated on 01/17/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.

Listings Near Franklin Lane Apartments

Bridge Square Apartments

2 Bridge Sq, Anoka, Minnesota 55303

bed 1
payment Subsidized

Sunny Acres

2701 11th Ave, Anoka, Minnesota 55303

payment Subsidized

Lynn Branch Avenue

2321 Branch Ave, Anoka, Minnesota 55303

bed 1-2
payment $1150-1240/mo.

535 Madison St

535 Madison St, Anoka, Minnesota 55303

bed 2
payment $1225/mo.

Mississippi Landings

1721 S Ferry St, Anoka, Minnesota 55303

bed 1
payment $1229/mo.

Anoka Flats

500 Greenhaven Rd, Anoka, Minnesota 55303

bed 2-3
payment $1100-1500/mo.
Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

Email Signup
Don't Miss A Waiting List Opening