Affordable Housing In Rosemount
Dakota County, Minnesota

3 Low Income Apartment Communities In Rosemount

Rosemount Plaza Apartments

2900 145th St W
Rosemount, MN
$955-1,114
1-2 BR
62+
Accessible
Subsidized

Rosemount Green

3762 145th St W
Rosemount, MN
HCV Welcome

Rosemount Townhouses

3810 145th St W
Rosemount, MN
Subsidized
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Housing Authorities that serve Rosemount

Housing Authority Programs
Dakota County Community Development Agency Section 8 Housing Choice Voucher (HCV); Public Housing
Metropolitan Council Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Rosemount, Minnesota

According to federal housing data and AffordableHousingOnline.com research, there are 3 low income housing apartment communities offering 95 affordable apartments for rent in Rosemount, Minnesota. Rosemount features 67 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 28 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Rosemount.

Rosemount, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 95
Total Housing Units with Rental Assistance 67
Percentage of Housing Units Occupied By Renters 13.39%
Average Renter Household Size 2.63
Average Household Size 2.89
Median Household Income $90,448 ±$3,822
Median Rent $1,106 ±$244
Percentage Of Renters Overburdened 53.52% ± 10.41pp
Total Population 22,741

Population and Household Demographics

Rosemount is a City in Dakota County, Minnesota with a population of 22,741. There are 7,854 households in the city with an average household size of 2.89 persons. 13.39% of households in Rosemount are renters.

Income and Rent Overburden in Rosemount

The median gross income for households in Rosemount is $90,448 a year, or $7,537 a month. The median rent for the city is $1,106 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rosemount, a household making less than $3,687 a month would be considered overburdened when renting an apartment at or above the median rent. 53.52% of households who rent are overburdened in Rosemount.1

Area Median Income In Rosemount

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Rosemount, the AMI is calculated from all households within Dakota County.

In Rosemount, HUD calculates the Area Median Income for a family of four as $100,000

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Rosemount

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Rosemount HUD Rental Assistance in Rosemount

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $21,000 $24,000 $27,000 $30,000 $32,400 $34,800 $39,010 $43,430
50% of Median $35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
80% of Median $52,850 $60,400 $67,950 $75,500 $81,550 $87,600 $93,650 $99,700
Low Income Housing Tax Credits in Rosemount

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 2006 to 2006, 1 low income apartment communities containing 28 rental apartments have been constructed and made affordable to low income persons in Rosemount by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Rosemount

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
60% of Median $42,000 $48,000 $54,000 $60,000 $64,800 $69,600 $74,400 $79,200

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Rosemount is $54,000 a year, or $4,500 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,500 by 30% to get a maximum rent of $1,350 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $875 $938 $1,125 $1,300 $1,450 $1,600
60% $1,050 $1,125 $1,350 $1,560 $1,740 $1,920
Fair Market Rents in Rosemount

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$820 $971 $1,214 $1,722 $2,025