847 Freeport Ave , Elk River, MN 55330
Waiting List Forecast: Likely Long or Closed for Rent Assisted units, and Likely Short or None for other affordable units
Verified for 2019 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $800 - 955 per Month† | 1 - 3 Beds | 1 Bath | 595 - 1,025 Sq Ft |
Since this property is a USDA 515 and LIHTC property that might have rental assistance for some or all units, there might be seperate or split waiting lists for rental assistance and non-rental assistance units. In this case, the rental assistance waiting list can be much longer than properties without rental assistance. The non-rental assistance units waiting list is likely much shorter or it may not have a waiting list at all. 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.
Located in the heart of Elk River, Elk Ridge Manor offers affordable and spacious 1, 2 and 3 bedroom apartments and townhomes that are sure to please. With great kitchens and generous closet space, Elk Ridge also offers an outdoor picnic and playground area, and is conveniently located within walking distance of so many small city attractions!
Because Elk Ridge Manor participates in the USDA Section 515 Rural Rental Housing program, this property is likely located in a rural community and may be one of only a few rental housing choices in the area. To qualify for residency in a Section 515 property, you must earn 80% or less of Area Median Income (AMI). However, this property also participates in the LIHTC program, so most or all units in the property are likely limited to persons earning 60% of AMI. Since this property also participates in USDA's Section 521 Rental Assistance program, residents who earn 50% of the AMI or less may qualify for a subsidy that limits your rent payment to 30% of your income. Some Section 521 properties do not offer rent subsidies to all of the units, so it is possible a person earning 50% or less of the AMI is placed on a subsidy waiting list, They would have to pay the full rent until their name comes up on the list. Since this property has benefited from the LIHTC program, it is likely to be in better condition and offer more amenities than other Section 515 properties. These properties are almost always owned and managed by private/corporate owners or nonprofits. If you live in a rural area and need help paying your rent, this property may be good for you. Since this property participates in the LIHTC and RD 515 programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 595ft2 | $800† |
| 2 Bedroom (2/1) | 795ft2 | $850† |
| 3 Bedroom (3/1) | 1025ft2 | $955† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year | $67,100 / year | $72,050 / year |
| 50% AMI for PBRA Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year | $67,100 / year | $72,050 / year |
| 60% AMI for LIHTC Units | $52,200 / year | $59,640 / year | $67,080 / year | $74,520 / year | $80,520 / year | $86,460 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Elk Ridge Manor have a waiting list?
Elk Ridge Manor probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Elk Ridge Manor?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
What property management company manges Elk Ridge Manor?
Elk Ridge Manor is managed by Thies & Talle Management headquartered in Chanhassen, Minnesota.
In addition to Elk Ridge Manor, how many other affordable housing properties (and units) are there in Elk River?
In addition to Elk Ridge Manor, we list 10 other affordable properties in Elk River. Learn about these properties here. Our data research shows that there are a total of 445 affordable units in Elk River.
385 Holt Ave NW, Elk River, Minnesota 55330
17250 Twin Lake Rd NW, Elk River, Minnesota 55330
631 Auburn Pl NW, Elk River, Minnesota 55330
22167 156th St NW, Elk River, Minnesota 55330
Interested in a waiting list that opens soon?
Get a head start, and scan important documents you may need for applications, like drivers licenses, birth certificates, and Social Security cards.Diane Johnson says:
"The housing information on Affordable Housing Online is comprehensive, timely and user friendly. I appreciate all the diligent research that goes into collecting and sharing this vital information. Thanks for your commitment to excellence."