Clover Ridge Apartments

858 8th Street SE , Altoona, Iowa 50009

Contact Clover Ridge Apartments

Located in a quiet residential neighborhood, Clover Ridge offers ideal accommodations for the active senior. Our caring staff loves to keep things interesting in our large community room. Daily coffee and chat sessions, the ever present puzzle table, scheduled monthly potlucks, community presentations, and special events and activities are just some of the many ways we like to stay active. With all Clover Ridge has to offer, it could be just what you are looking for in a place to call home. Please call for an appointment today.

Clover Ridge Apartments is an affordable housing community, with rental assistance provided by the USDA. Residents pay 30% of the gross monthly household income, and the USDA subsidy pays the balance of the rent. Water, sewer, and trash are paid by the landlord, and the resident is provided with a utility allowance, or a standard rent deduction, to offset the cost of the electricity. Additional deductions may be available for dependent care expenses, as well as out-of-pocket medical expenses, based on eligibility.

Unit (Bd/Ba)	Ft²	Rent
1 BR (1/1)	600	Income Based

Eligibility for Clover Ridge Apartments

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 Altoona but actual income limits may differ for units at Clover Ridge Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$36,550	$41,750	$46,950	$52,150	$56,350	$60,500	$64,700	$68,850
Low Income (60%)	$43,860	$50,100	$56,340	$62,580	$67,620	$72,600	$77,640	$82,620

Clover Ridge Apartments Details

24 one bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing
Section 521 USDA Rental Assistance

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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.