Fairmont Place Apts
1001 Pheasant Ave, Fairmont, MN 56031
Elderly · 32 1BR, 2 2BR
Managed by Krueger Rlty INC
- Units
- 34
- Rental assistance
- 27
- Vacant
- 1
- Accessible
- 2
- Opened
- 1989
Minnesota
7 properties in Martin County have USDA Section 515 or 514 financing: 134 apartments across 5 towns. 100 of those units carry USDA rental assistance, which ties what an eligible tenant pays to income.
Equal housing opportunity. Properties financed by USDA Rural Development must follow the Fair Housing Act, which bars discrimination because of race, color, religion, sex, disability, familial status or national origin. If you believe you were treated unfairly, you can file a complaint with HUD at 1-800-669-9777 or with USDA at 866-632-9992.
Open Country does not own, manage or rent these properties and does not take applications. Contact each property's management company for availability, rents and eligibility. Listings come from USDA's public data and may be out of date.
1001 Pheasant Ave, Fairmont, MN 56031
Elderly · 32 1BR, 2 2BR
Managed by Krueger Rlty INC
101, 102 &, Fairmont, MN 56031
Family · 3 1BR, 21 2BR
Managed by Krueger Rlty INC
900 Hengen St, Fairmont, MN 56031
Family · 8 1BR, 12 2BR, 4 3BR
214 N Bridgeman Stret, Northrup, MN 56075
Family · 5 1BR, 3 2BR
Managed by Krueger Rlty INC
121 E Main St, Trimont, MN 56176
Family · 16 1BR
Managed by Smr Management, INC
501 W 1st St S, Truman, MN 56088
Family · 4 1BR, 12 2BR
Managed by Reineke Prop Mgmt
201 Campbell St, Welcome, MN 56181
Family · 5 1BR, 7 2BR
Managed by Smr Management, INC
Source: USDA Rural Development, Section 515/514 active properties file (data as of October 19, 2026). Vacancies are as USDA last recorded them, not live availability.
USDA-financed apartments are for very low, low and moderate income households (7 CFR 3560.152), and elderly and congregate properties also require a household that meets USDA's definition of elderly. In a unit with USDA rental assistance, the tenant pays the highest of 30% of monthly adjusted income, 10% of gross monthly income or a welfare shelter allowance, and the assistance covers the rest of the rent (7 CFR 3560.203). Each property's manager checks income against USDA's limits for the area when you apply and can tell you whether a unit with rental assistance is open.
All 7 are limited-profit. None has housing tax credits. 1 serves elderly tenants. USDA's file shows use restrictions on 1 property here ending by 2031. Owners of aging 515 properties can use a Section 538 guaranteed loan to finance a transfer and rehab, at USDA's lower 60 and 25 basis point preservation fees. How 515 transfers work with 538.
Every property in one file: 515/514 portfolio download (CSV and JSON).