Grimes Park Apts I
240 SW James, Grimes, IA
- Apartments
- 16
- Income-restricted
- 16
- Placed in service
- 1990
Iowa
Tax credit apartments in Grimes, IA
HUD's database lists 6 properties in Grimes built or rehabbed with low-income housing tax credits: 294 apartments, 284 of them income-restricted. Rents in those units are capped while each property's affordability agreement runs, and you qualify by income; many properties still keep waiting lists.
Equal housing opportunity. Tax credit properties must follow the Fair Housing Act, which bars discrimination because of race, color, religion, sex, disability, familial status or national origin, and they may not refuse an applicant because the applicant holds a Housing Choice (Section 8) voucher (IRC 42(h)(6)(B)(iv)). Properties HUD lists as senior housing may limit who lives there by age only as the Fair Housing Act's housing-for-older-persons exemption allows. To report housing discrimination, call HUD at 1-800-669-9777.
LIHTC Atlas does not own, manage or rent these apartments and does not take applications. Contact each property's management for availability, rents and income rules. Listings come from HUD's database and may be out of date.
Latitude Lofts
551 SE Gateway Circle, Grimes, IA 50111
12 1BR, 27 2BR, 11 3BR
- Apartments
- 50
- Income-restricted
- 45
- Placed in service
- 2020
Meadowlark Place Apts
1120 SE 11th St, Grimes, IA 50111
18 1BR, 48 2BR, 18 3BR
- Apartments
- 84
- Income-restricted
- 84
- Placed in service
- 2013
Oak Crossing
310 SE Gateway Dr, Grimes, IA 50111
HUD lists it as senior housing · 15 1BR, 17 2BR, 28 3BR
- Apartments
- 60
- Income-restricted
- 59
- Placed in service
- 1999
Thomas Square At Grimes
601 101 SE Dovetail, Grimes, IA
20 2BR, 30 3BR
- Apartments
- 50
- Income-restricted
- 50
- Placed in service
- 2012
Urban Crossing Apartments
875 SE Gateway Dr, Grimes, IA 50111
4 1BR, 20 2BR, 10 3BR
- Apartments
- 34
- Income-restricted
- 30
- Placed in service
- 2019
Source: HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024). Properties a state agency has flagged as no longer monitored are left out; properties placed in service after 2024 are not in HUD's database yet.
How tax credit apartments work
Each income-restricted unit has a maximum rent set from the area's income limits: gross rent, including a utility allowance for tenant-paid utilities, can't go above 30% of the income limit for the unit's size. The rent doesn't change with your own income, so a household near the bottom of the range pays the same rent as one near the top. That's different from public housing or a voucher, where you pay a share of what you earn.
To qualify, your household's income has to be at or under the limit the unit is set at, usually 50% or 60% of the area median, and up to 80% in some buildings. Management checks income, and assets, when you apply. A household made up entirely of full-time students generally can't qualify, with exceptions in IRC 42(i)(3)(D) such as single parents and married students filing jointly. More on qualifying.
You can apply with a Housing Choice voucher, and the property can't turn you down because you have one.