Lantern Park Osage — Income-Restricted Housing in Osage, IA 50461
1032 N 10th St, Osage, IA 50461
16 units · 2–3 BR · People with disabilities
- 7 vacant units reported (Oct 2026) — call to confirm
How to apply
- Managed by Keyway Management Company. USDA does not publish a phone number for this property.
- Find contact info on USDA's Multifamily Housing programs page.
- These records do not show openings — call to confirm vacancies and waiting lists.
At this building
- Opened
- 1993
- Bedrooms
- 8 2 bedrooms · 8 3 bedrooms
- USDA rental assistance
- 16 units (tenant pays about 30% of income)
- Accessible units
- 1
- Managed by
- Keyway Management Company
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Nearby income-restricted buildings
Hamlin Garland
831 Heritage Dr, Osage, IA 50461
1.3 mi away
26 units · 1–2 BR
- 10 vacant units reported (Oct 2026) — call to confirm
Rents and income limits in 50461
- Fair market rent, 2 bedrooms
- $930/mo
- Income needed to pay it at 30% of income
- $37,200/yr
- Renters in 50461 paying 30% or more of income on rent
- 32%
Income limits (2026)
Mitchell County, IA area · median family income $96,800. Your household's yearly income before taxes must be at or below the limit.
| People | Extremely low 30% | Very low 50% | Low 80% |
|---|---|---|---|
| 1 | $20,350 | $33,900 | $54,250 |
| 2 | $23,250 | $38,750 | $62,000 |
| 3 | $27,320 | $43,600 | $69,750 |
| 4 | $33,000 | $48,400 | $77,450 |
| 5 | $38,680 | $52,300 | $83,650 |
| 6 | $44,360 | $56,150 | $89,850 |
| 7 | $50,040 | $60,050 | $96,050 |
| 8 | $55,720 | $63,900 | $102,250 |
Section 8 vouchers: up to the 50% limit, and most go to households under 30%. Public housing: up to 80%. Tax-credit apartments: usually up to 60% of median income, between the 50% and 80% columns.
Fair market rents (2027)
HUD's estimate of rent plus utilities for a modest home. Housing authorities set Section 8 voucher limits from it.
| Size | 50461 | Wider area |
|---|---|---|
| Studio | $690 | $688 |
| 1 bedroom | $800 | $801 |
| 2 bedrooms | $930 | $927 |
| 3 bedrooms | $1,190 | $1,190 |
| 4 bedrooms | $1,230 | $1,218 |
Wider area = Mitchell County, IA. Two-bedroom fair market rents in 4 nearby ZIPs range from $930 (50476) to $1,020 (50472).
Census figures for 50461 (2020–2024 average): median rent $722. Median household income $68,886. 21% of homes are rented. 32% of renters pay 30% or more of their income on rent, and 17% pay half or more.
Census median rent is what renters here actually pay, including long-term leases. Fair market rent is HUD's estimate for a modest apartment available now.
Sources: HUD income limits FY2026; HUD Fair Market Rents FY2027 (Small Area FMR for ZIP figures); U.S. Census Bureau American Community Survey 5-year 2020–2024. Each program and building can set its own limits — confirm with the property.
Estimate your Section 8 rent share
Project-based Section 8 is on the buildings above. A Housing Choice Voucher is different: you apply with the housing authority, then find a landlord who takes it. Your share of rent is based on income — not always 30%. The calculator uses 50461's fair market rent.
Estimate your Section 8 rent share for 50461Frequently Asked Questions
How do I apply to Lantern Park Osage?
No phone is listed for Lantern Park Osage. Try the city housing office or, for USDA rural properties, USDA's Multifamily Housing search. These records do not show openings.
Is Lantern Park Osage Section 8 housing?
Lantern Park Osage is listed as income-restricted housing in Osage, IA 50461 (lihtc, usda). It is not labeled as project-based Section 8 in this file. Call to ask which programs they run.
How many units are at Lantern Park Osage?
Public records list 16 units at Lantern Park Osage in Osage, IA 50461. That is a building size, not a count of open apartments.
Are there other affordable apartments near Lantern Park Osage?
Yes — this page lists other income-restricted buildings in 50461 and nearby ZIP codes. Open a nearby card for the address and phone. Lists still do not show vacancies.
People Also Ask
How do I get into Lantern Park Osage?
Call the number on this page and ask about the waiting list or how to apply at Lantern Park Osage in Osage, IA 50461. Public housing is through the housing authority. Bring ID and income documents when they tell you to. This site cannot submit an application for you.
How do I qualify for affordable housing in Osage, IA 50461?
Most income-restricted buildings in Osage, IA 50461 serve households at or below 50% or 80% of area median income. HUD's 2026 very low-income (50%) limit for a 1-person household is $33,900, and $48,400 for a 4-person household. Public housing can go up to 80% ($54,250 for 1 person). Each building sets its own cap — call to confirm before you apply. Citizenship, household size, and local preferences can also apply.
What is the income limit for low-income housing in Osage, IA 50461?
For many programs in Osage, IA 50461, the 2026 HUD very low-income (50%) limit is $33,900 a year for 1 person and $48,400 for 4 people. The low-income (80%) limit is $54,250 for 1 person. Tax-credit buildings often use 60% of median income. Confirm with the property — they can be stricter.
How much rent do you pay for low-income housing in Osage, IA 50461?
In public housing and most Section 8 in Osage, IA 50461, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Osage, IA 50461 is $930 a month (rent plus utilities for a modest unit). Tax-credit apartments use set rents below market, not always 30% of income. Call the building for the actual rent; this site is not a vacancy or price list.
Does Lantern Park Osage take Section 8 vouchers?
This file does not say that Lantern Park Osage has a project-based Section 8 contract. Some landlords in Osage, IA 50461 accept Housing Choice Vouchers; you have to ask. Apply for a voucher with the housing authority, then call Lantern Park Osage.
Sources: HUD LIHTC database, 2024 (released Apr 2026); USDA Rural Development multifamily, Oct 2026. Not affiliated with HUD or USDA. Details can be out of date — confirm with the property before applying. Report a correction.