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Income Restrictions

Income Restrictions

 

Housing Tax Credit Program

The Lifestyle You Deserve at a Price You Can Afford

This affordable housing program is for seniors with moderate incomes allowing below market rents for those who qualify. The program is not a subsidized housing program as each resident is responsible for their full amount of rent each month. Rental amounts are based on the pre-set income limits in the geographic area and not based on your individual household income. To be income eligible, your total household 'gross' income must be less than the pre-set income limit for the area.

Application Processing: All household members must be age 55 or older, and at least one household member must be age 61+ by the end of the current year, or disabled. Each household member must provide documentation establishing their eligibility. Once your application is accurately completed, signed by all required parties and all required documentation is submitted, it will take 1-3 weeks to process your file for review and approval. If application completion or documentation submission is delayed, your move-in date may be pushed back.

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Current Income Limits


1 Person - $56,580
2 People - $64,620
3 People - $72,720
4 People - $80,760
5 People - $87,240
6 People - $93,720

Type of unit applying for Minimum Occupancy Maximum Occupancy
Tax Credit and affordable units 1 person per bedroom* 2 persons per bedroom plus 1
Market rate units Not Applicable 2 persons per bedroom plus 1

*May not be applicable to Senior Housing Communities.

Example: In general, maximum number of persons is 2 persons per bedroom plus 1. This may vary based on the size and configuration of your rental unit. In the event of a change in household/family status impacting the number of occupants, residents will have until the expiration of the lease term to transfer to the appropriate apartment to comply with occupancy limits.