Minneapolis Portfolio Preservation Project (MP3) — Income-Restricted Housing in Minneapolis, MN 55401
901 N 3rd St Ste 150, Minneapolis, MN 55401
33 units · Studio–1 BR
Management office: (612) 746-4856Directions
How to apply
- Call the management office at (612) 746-4856 to ask about applying, vacancies, and waiting lists.
- These records do not show openings — call to confirm vacancies and waiting lists.
At this building
- Opened
- 2015
- Bedrooms
- 27 Studio · 6 1 bedroom
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Nearby income-restricted buildings
Great River Landing
813 Fifth Street North, Minneapolis, MN 55401
0.5 mi away
72 units · Studio · People with disabilities · People experiencing homelessness
Creamette Historic Lofts
428 North First Street, Minneapolis, MN 55401
0.6 mi away
96 units · 49 income-restricted · 1–2 BR
Gaar Scott Historic Lofts
614 North First Street, Minneapolis, MN 55401
0.6 mi away
30 units · 9 income-restricted · 1 BR
North
314 Hennepin Ave, Minneapolis, MN 55401
1 mi away
1,342 units · 1–2 BR
- Apply through PHA in and for the City of Minneapolis
The Greenleaf (fka Lyndale Green)
2743 Lyndale Ave, Minneapolis, MN 55401
2.8 mi away
63 units · 1–2 BR
Rents and income limits in 55401
- Fair market rent, 2 bedrooms
- $2,600/mo
- Income needed to pay it at 30% of income
- $104,000/yr
- Renters in 55401 paying 30% or more of income on rent
- 35%
Income limits (2026)
Minneapolis-St. Paul-Bloomington, MN-WI area · median family income $131,500. Your household's yearly income before taxes must be at or below the limit.
| People | Extremely low 30% | Very low 50% | Low 80% |
|---|---|---|---|
| 1 | $27,650 | $46,050 | $73,650 |
| 2 | $31,600 | $52,600 | $84,200 |
| 3 | $35,550 | $59,200 | $94,700 |
| 4 | $39,450 | $65,750 | $105,200 |
| 5 | $42,650 | $71,050 | $113,650 |
| 6 | $45,800 | $76,300 | $122,050 |
| 7 | $50,040 | $81,550 | $130,450 |
| 8 | $55,720 | $86,800 | $138,900 |
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 | 55401 | Wider area |
|---|---|---|
| Studio | $1,900 | $1,265 |
| 1 bedroom | $2,140 | $1,427 |
| 2 bedrooms | $2,600 | $1,734 |
| 3 bedrooms | $3,390 | $2,264 |
| 4 bedrooms | $3,810 | $2,538 |
Wider area = Minneapolis-St. Paul-Bloomington, MN-WI. Two-bedroom fair market rents in 12 nearby ZIPs range from $1,540 (55454) to $2,400 (55415).
Census figures for 55401 (2020–2024 average): median rent $2,023. Median household income $113,522. 72% of homes are rented. 35% of renters pay 30% or more of their income on rent, and 10% 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 55401's fair market rent.
Estimate your Section 8 rent share for 55401Frequently Asked Questions
How do I apply to Minneapolis Portfolio Preservation Project (MP3)?
Call (612) 746-4856 and ask about applying, vacancies, and waiting lists at Minneapolis Portfolio Preservation Project (MP3) in Minneapolis, MN 55401. These records do not show openings.
Is Minneapolis Portfolio Preservation Project (MP3) Section 8 housing?
Minneapolis Portfolio Preservation Project (MP3) is listed with a HUD-assisted or project-based Section 8 contract. The subsidy stays with the apartment. A Housing Choice Voucher is different — you apply with the housing authority. Confirm the program when you call.
How many units are at Minneapolis Portfolio Preservation Project (MP3)?
Public records list 33 units at Minneapolis Portfolio Preservation Project (MP3) in Minneapolis, MN 55401. That is a building size, not a count of open apartments.
Are there other affordable apartments near Minneapolis Portfolio Preservation Project (MP3)?
Yes — this page lists other income-restricted buildings in 55401 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 Minneapolis Portfolio Preservation Project (MP3)?
Call the number on this page and ask about the waiting list or how to apply at Minneapolis Portfolio Preservation Project (MP3) in Minneapolis, MN 55401. 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 Minneapolis, MN 55401?
Most income-restricted buildings in Minneapolis, MN 55401 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 $46,050, and $65,750 for a 4-person household. Public housing can go up to 80% ($73,650 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 Minneapolis, MN 55401?
For many programs in Minneapolis, MN 55401, the 2026 HUD very low-income (50%) limit is $46,050 a year for 1 person and $65,750 for 4 people. The low-income (80%) limit is $73,650 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 Minneapolis, MN 55401?
In public housing and most Section 8 in Minneapolis, MN 55401, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Minneapolis, MN 55401 is $2,600 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 Minneapolis Portfolio Preservation Project (MP3) take Section 8 vouchers?
Minneapolis Portfolio Preservation Project (MP3) is listed with project-based Section 8 or HUD assistance — the subsidy is on the unit, so you usually apply at the building rather than bringing a tenant voucher. Ask when you call whether they also accept Housing Choice Vouchers.
Sources: HUD LIHTC database, 2024 (released Apr 2026); HUD Multifamily Assisted Properties, Oct 2026; HUD Public Housing Developments, Oct 2026. Not affiliated with HUD or USDA. Details can be out of date — confirm with the property before applying. Report a correction. To add a different building, use the suggestion rubric.