Trailside Apartments and Townhomes is managed by Lloyd Management.
Trailside Townhomes offer affordable family living in a spacious environment. Each townhome includes its own patio and private entrances. Located just blocks from the downtown area, you will be minutes from shopping, schools and restaurants.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
1 Bedroom Apartment (1/1) | 536 | Income Based |
1 Bedroom Townhome (1/1) | 676 | $445 |
2 Bedroom Apartment (2/1) | 841 | Income Based |
2 Bedroom Townhome (2/1) | 946 | $545 |
3 Bedroom townhome (3/1) | 1 | Income Based |
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Albert Lea but actual income limits may differ for units at Trailside Apartments and Townhomes.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
50% | $30,900 | $35,300 | $39,700 | $44,100 | $47,650 | $51,200 |
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 Albert Lea but actual income limits may differ for units at Trailside Apartments and Townhomes.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
Very Low Income (50%) | $30,900 | $35,300 | $39,700 | $44,100 | $47,650 | $51,200 |
Low Income (60%) | $37,080 | $42,360 | $47,640 | $52,920 | $57,180 | $61,440 |
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.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.