Privately owned building that provides low-income housing to families who are eligible

Description

Privately owned building whose management contracts with either the U.S. Department of Housing and Urban Development (HUD) or the Minnesota Housing Finance Agency to receive rental subsidies

This type of property is sometimes referred to as "Project Based Section 8 Housing." Property owner/manager must follow HUD regulations. The government gives funds directly to the apartment owners, who lower the rents they charge tenants with low-income. This type of affordable housing is specifically for families. The rental amount paid by the resident is determined based on the resident's income. Some units have a low, fixed rent amount.

HUD requires rental housing to provide Equal Housing Opportunity.

Features

• Area Served by County
  • Olmsted County

• Payment
  • Private pay

• Specialization
  • Family
  • People with low income

Eligibility

The resident must meet income guidelines set by the U.S. Department of Housing and Urban Development (HUD). Check with the property management for specific income limits.

This type of housing is specifically for families. Individual properties may have additional eligibility requirements.