RentAffordable
IA · Forest City

TOWN SQUARE APARTMENTS

127 Winnebago Way, Forest City, IA 50436

HUD-Assisted Multifamily Serves: Partially elderly handicapped 49 assisted units

About this property

TOWN SQUARE APARTMENTS is a HUD-assisted multifamily rental community located at 127 Winnebago Way, Forest City, IA 50436. The property participates in the U.S. Department of Housing and Urban Development’s HUD-Assisted Multifamily program and offers 49 federally-assisted units. This property is enrolled in the U.S. Department of Housing and Urban Development’s multifamily assistance program. HUD’s contract with the owner subsidizes rent for income-qualifying tenants in exchange for the owner agreeing to long-term affordability and reporting requirements.

The community sits within the broader Forest City, IA HUD-assisted housing inventory, which includes 1 property totaling 49 assisted units. Statewide, Iowa has thousands of HUD-assisted apartments under similar contracts.

Eligibility & rent calculation

Eligibility is income-based: most assisted households earn at or below 50% of the local Area Median Income, and rent is calculated at roughly 30% of adjusted monthly income. HUD updates income limits annually for every metropolitan area and county in the country — you can look up the current figures for the Forest City area on HUD User’s Income Limits page. In practice, the rent calculation works like this: HUD takes your gross household income, subtracts allowances for dependents, elderly or disabled household members, child care, and certain medical expenses to arrive at adjusted income. You pay 30% of that adjusted figure each month, and HUD pays the property the rest of the contracted rent.

Most recent HUD REAC physical inspection score on file: 57. REAC scores range from 0–100; properties scoring under 60 receive additional HUD oversight and follow-up inspections.

Applying & the waitlist

Most HUD-assisted properties operate their own waitlist, separate from the local Public Housing Agency’s Section 8 Housing Choice Voucher list. To apply at TOWN SQUARE APARTMENTS:

  • Call the on-site management office at (641) 585-4321 and ask whether the waitlist is currently open. Some properties open the list only briefly each year.
  • If the list is closed, ask when it last opened, when it is expected to reopen, and whether they keep a notification list for future openings.
  • Have basic household information ready: number of household members and their ages, total annual household income, and any preferences you may qualify for (veteran, displaced, working, elderly, disabled, or homeless).
  • Bring identification, Social Security cards or numbers for all household members, and the most recent income documentation (pay stubs, benefits letters, tax returns) when you submit an application.

If the waitlist at TOWN SQUARE APARTMENTS is closed or the wait is long, also apply for a Housing Choice Voucher through your local Public Housing Agency — see our step-by-step Section 8 application guide — and consider nearby cities in Iowa. You can also review our eligibility checklist and tenant rights primer before you call.

Disclaimer: Rent Affordable is an independent directory and is not affiliated with the U.S. Department of Housing and Urban Development, this property, or its management. Always verify current availability, eligibility requirements, rent amounts, and waitlist status directly with the property management office.