Riverwood Apartments

1125 Madison St, Vermillion, South Dakota 57069

Contact Riverwood Apartments

Assistance Animals are allowed by Federal Mandate but may be subject to additional paperwork requirements to verify authenticity of the Assistance Animal. * Not all handicapped accessible facilities may be suitable for all disabilities. Please check with the property manager for more information. * Rent Assisted housing may not be available at all property or in all situations. Please check with the property manager for more information This property has a Picnic Areas with grills. Riverwood is a proud member of the Vermillion Crime Free Multi-Housing Program.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	670	$694
2 Bedroom (2/1)	742	$789

Eligibility for Riverwood 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 Vermillion but actual income limits may differ for units at Riverwood Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$33,150	$37,900	$42,650	$47,350
Low Income (60%)	$39,780	$45,480	$51,180	$56,820

Riverwood Apartments Details

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

Property Amenities

Playground
Laundry Facilities
Smoke Free
Utility Allowance
Picnic Area

Unit Amenities

Air Conditioning
Cable Ready
Extra Storage
Water Trash and Sewer Included
Mini Blinds & Curtain Rods
Deadbolt Locks and Wide Angle Door Viewers

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.