Market Rate Housing

Garden Terrace Apartments are owned by the New Ulm Economic Development Authority (EDA) and managed by Lloyd Management. They are backdropped by the beautiful bluffs of New Ulm and offer residents a private setting.

Rental Rates

These rates are effective as of January 1, 2024:

  • 1 Bedroom - $950
  • 1 Bedroom plus den - $1,050
  • 2 Bedroom - $1,150
  • 2 Bedroom (corner room) - $1,250
  • 2 Bedroom plus den - $1,350 through $1,450
  • Garage - $35

Down-Payment Assistance

Down-payment assistance for each monthly rental payment, tenant earns a $200 credit toward a down-payment. Tenants can earn up to $5,000 to purchase a house in New Ulm. Limited funds are available annually and will be granted on a first-come, first-serve basis.

Contact

Call the Management Office at 507-354-7111 for more information.

Floor Plans