North and South Oak Apartments

220 Greenvale Ave, #101, Northfield, Minnesota 55057

North and South Oak Apartments, located at 220 Greenvale Ave, #101 in Northfield, has one and two bedroom apartments. North and South Oak Apartments participates in the Low-Income Housing Tax Credit (LIHTC) program.

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) 530 $645
2 Bedroom (2/1) 725 $675

North and South Oak Apartments Details

  • 43 one and two bedroom units.
  • Water and Sewer utilities included in rent
  • Heat utility included in rent
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • On-Site Maintenance
  • Laundry Facility
  • Heat Included

Unit Amenities

  • Water Trash and Sewer Included

Nearby Amenities

  • Near Schools

About North and South Oak Apartments

North & South Oak Apartments is a newly remodeled building! New flooring, cabinets, dishwashers, appliances. North & South Oak Apartments also has a new playground. This community offers 1 and 2 bedroom apartments.

Low-Income Housing Tax Credit (LIHTC)

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.

Northfield Low-Income Housing Tax Credit Income Limits

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 Northfield but actual income limits may differ for units at North and South Oak Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $30,100 $34,400 $38,700 $42,950 $46,400 $49,850 $53,300 $56,700
Low Income (60%) $36,120 $41,280 $46,440 $51,540 $55,680 $59,820 $63,960 $68,040

North and South Oak Apartments 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.

North and South Oak Apartments is managed by SMR Management.

Image of North and South Oak Apartments
Image of North and South Oak Apartments
Image of North and South Oak Apartments

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