Cherry Ridge offers a private setting with a panoramic view of the Mankato/North Mankato River Valley. Conveniently located within walking distance of downtown Mankato. This community recently added many energy efficiencies including low flow faucets and all LED lighting. An application fee of $25 per adult plus a $500 security deposit is due with your application.
|1 Bedroom (1/1)||618||From $630 To $650|
|2 Bedroom (2/1)||775-1,154||From $710 To $760|
|3 Bedroom (3/2)||1,375||From $850 To $900|
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.
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 Mankato but actual income limits may differ for units at Cherry Ridge Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$29,650||$33,900||$38,150||$42,350||$45,750||$49,150||$52,550||$55,950|
|Low Income (60%)||$35,580||$40,680||$45,780||$50,820||$54,900||$58,980||$63,060||$67,140|
Cherry Ridge Apartments is managed by Lloyd Management.