Russell Lamson

209 W 5th St, Waterloo, Iowa 50701

Contact Russell Lamson

The completely renovated Russell Lamson building offers luxury living at a truly affordable price. Our community consists of 90 remodeled apartment homes, each equipped with new kitchen cabinets, flooring and appliances. Units include individually-controlled central heating and cooling systems, with heat, cooling, water and trash removal included in your rent. We offer a full list of resident amenities including an exercise facility, media learning center, laundry facilities, controlled entrance, and a professional on-site management team.

Student Restrictions May Apply

Income Restrictions May Apply

Minimum income requirement is 1.5 times the rent

Background Checks Include: criminal, student, credit, and landlord history

Deposit: $300

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	396	$655
1 Bedroom (1/1)	478	From $780 $625
2 Bedroom (2/2)	-	Call for Price
2 Bedroom (2/1)	1249	From $999 $867
3-Bedroom (3/2)	1323	$1,100

Eligibility for Russell Lamson

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 Waterloo but actual income limits may differ for units at Russell Lamson.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$30,750	$35,150	$39,550	$43,900	$47,450	$50,950
Low Income (60%)	$36,900	$42,180	$47,460	$52,680	$56,940	$61,140

Russell Lamson Details

90 studio, one, two and three bedroom units.
Mid Rise
Low-Income Housing Tax Credit (LIHTC)

Property Amenities

Controlled Access
Elevator
Fitness Center
Business Center
On-Site Manager
24hr Emergency Maintenance
On-Site Maintenance
Laundry Facilities

Unit Amenities

Storage
Central Heat & Air

Office Hours

Day	Hours
Monday	8:00am-5:00pm
Tuesday	8:00am-5:00pm
Wednesday	8:00am-5:00pm
Thursday	8:00am-5:00pm
Friday	8:00am-5:00pm

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.