Income Limits

Select apartment homes are reserved for households that meet income limits set by applicable affordable housing programs. Eligibility and rent are based on program guidelines, household size, and the county’s annually updated Area Median Income (AMI). Rent may change yearly due to AMI and utility allowance adjustments, even if household income stays the same.

Resident clubhouse and lounge

Eligibility & Income

Certain units at the property are set aside for households with annual income that falls within the income limits required by the applicable affordable program(s) or programs. Some units may have different income requirements depending on the applicable affordable program. Under the program(s), certain units are set aside for households earning within the applicable income limit.

Set-Aside Percentage
One Bedroom 1x1
Two Bedroom 2x2
Three Bedroom 3x2
60%
$1,416
$1,698
$1,959
80%
$1,906
$2,285
$2,638
Set-Aside Percentage
1 Person
2 People
3 People
4 People
5 People
6 People
7 People
60%
$55,200
$63,120
$70,980
$78,840
$85,200
$91,500
$97,800
80%
$73,600
$84,160
$94,640
$105,120
$113,600
$122,000
$130,400

‍

Rent Calculation

The allowable rent is tied to the number of bedrooms and the affordable program that applies to the unit, the AMI (Area Median Income) for the county or metro area, and the applicable utility allowance.

Here are a few of the steps in determining income eligibility. This is not meant to be a complete list. Contact our leasing staff for more details.

  • Tenants need to qualify based on household income adjusted for their household size at the time of their initial lease. Income is defined as the gross amount of income anticipated to be received by all members of the household, with some exceptions, during the twelve (12) month period following the certification.
  • Income calculations may include assets or other non-employment income.
  • The leasing staff will verify all sources of income when you apply and will re-certify your income every year while you live here.

‍

AMI Changes

The U.S. Department of Housing and Urban Development (HUD) determines the AMI (Area Median Income) annually for each county and metro area. This number may be higher for larger households and bigger units.

‍

Rent Changes

Because the AMI (Area Median Income) and utility allowance are updated annually, the allowable rent for a unit can also change. This means that a unit's rent may change even if your household income hasn't changed.

‍

Program Eligibility

You are responsible for confirming the affordable program eligibility requirements for any unit you are interested in.

You will be asked to complete forms that request information regarding household income, family composition, student status and financial assets. This information will aid the office team in determining your eligibility. The office team will be happy to assist you with the application process.

After you move in, the staff will need to re-certify your household's income.

There are more inspections than in most buildings. The public agencies and the private investors who provide the financing that allow the rents to be affordable want to make sure that we're being good stewards of those resources. They come to review our records each year, to look at the building, and to inspect some percentage of the apartments.

‍

Defining Income

Income includes, but is not limited to:

  • Employment income
  • Self-employment Income
  • Social Security, pensions, SSI, or disability income, AFDC
  • Unemployment compensation
  • Alimony or child support payments
  • Recurring contributions and gifts
  • Income from assets - interest, stocks, bonds, real estate, etc.