541 S Ridgely St, Kasota, MN 56050
Waiting List Forecast: Likely Long or Closed for Rent Assisted units, and Likely Short or None for other affordable units
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 Bath | 528 - 912 Sq Ft |
Since this property is a USDA Section 515 property with 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.
Ridgely Park Apartments offer 1, 2, and 3 bedroom apartments. This property is smoke free and A security deposit equal to one month of rent will be due at time of lease signing.
This property was financed by the USDA Section 515 program. This housing program was used to build affordable apartment communities in rural areas from the 1970’s through the 1990’s, with very few new properties built since then. Historically, the program had financial restrictions that limited the size, quality and amenities at properties. Unless Ridgely Park Apartments has been renovated, it is likely to have smaller units and fewer amenities. Since the property is in a rural area, it may be one of only a few affordable rentals in the area. This property also participates in the Section 8 Project-Based Rental Assistance program that helps residents pay rent. If your income is at or below 50% of the AMI, you would only pay 30% of your income toward rent. Since the property has a tenant-based subsidy, it is likely to have a longer waiting list than other properties. If you need help paying your rent and you live in a rural area, this property might be for you. Since this property participates in the Section 8 Project Based Rental Assistance program and has a property based subsidy, if you have a Section 8 voucher, you would have to give up your voucher to move in.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 528ft2 | Rent is Based On Your Income† |
| 2 Bedroom (2/1) | 768ft2 | Rent is Based On Your Income† |
| 3 Bedroom (3/1) | 912ft2 | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $21,600 / year | $24,650 / year | $27,750 / year | $30,800 / year | $35,140 / year | $40,280 / year |
| 50% AMI for LIHTC Units | $35,950 / year | $41,100 / year | $46,250 / year | $51,350 / year | $55,500 / year | $59,600 / year |
| 50% AMI for PBRA Units | $35,950 / year | $41,100 / year | $46,250 / year | $51,350 / year | $55,500 / year | $59,600 / year |
| 80% AMI for PBRA Units | $57,500 / year | $65,700 / year | $73,900 / year | $82,100 / year | $88,700 / year | $95,250 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Ridgely Park Apartments have a waiting list?
Ridgely Park Apartments 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 Ridgely Park Apartments?
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 Ridgely Park Apartments?
Ridgely Park Apartments is managed by Lloyd Management headquartered in Mankato, Minnesota.
In addition to Ridgely Park Apartments, how many other affordable housing properties (and units) are there in Le Sueur County?
In addition to Ridgely Park Apartments, we list 17 other affordable properties in Le Sueur County. Learn about these properties here. Our data research shows that there are a total of 478 affordable units in Le Sueur County.
When was the Ridgely Park Apartments listing last updated?
Ridgely Park Apartments listing on Affordable Housing Online was last updated on 01/17/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
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