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Balsam Apartments

13680 Balsam Ln N, Dayton, Minnesota 55327

Balsam Apartments a 49 unit community with underground parking, community room, fitness room and children’s play area. The homes will be a mixed of one, two and three bedrooms with full kitchens, walk-in closets, in-unit laundry, and deck/patio.

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) 718 Call for Price
2 Bedroom (2/2) 1225 Call for Price
3 Bedroom (3/2) 1441 Call for Price

Eligibility for Balsam Apartments

Balsam Apartments Details

  • 49 one, two and three bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • HOME Investment Partnerships Program

Property Amenities

  • Elevator
  • Playground
  • Community Room
  • On-Site Manager
  • On-Site Parking
  • Smoke Free

Unit Amenities

  • Central Air
  • Water Trash and Sewer Included
  • Washer and Dryer Included
  • Energy Efficient Appliances
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.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Images of Balsam Apartments
Image of Balsam Apartments