INCOME LEVELS & RENTS

Effective 1-1-2022

CARMEN ROMANO APARTMENTS

MAXIMUM INCOME LIMITS |         1 BEDROOM          |            2 BEDROOM

                                                      # of units | RENT               # of units | RENT

60% of AMI                                           65    $1,096.00                       16    $1,305.00

50% of AMI                                           13     $900.00                           3     $1,070.00

25% of AMI                                             5     $415.00                            1     $500.00


TOTAL GROSS HOUSEHOLD INCOME CANNOT EXCEED $43,260  FOR A SINGLE PERSON OR $49,440  FOR A COUPLE

INCOME LIMITS ARE BASED ON FAMILY SIZE

FAMILY SIZE      |         MAXIMUM INCOME LIMITS

                                  60% of AMI              50% of AMI              25% of AMI

1 PERSON                    $43,260                   $36,050                      $18,025

2 PERSONS                 $49,440                  $41,200                       $20,600

INCOME IS DEFINED IN THE DETAILED FEDERAL PROGRAM REGULATIONS.

APPLICANTS MUST MEET ALL THE OTHER REQUIREMENTS FOR OCCUPANCY

MINIMUM INCOME REQUIREMENT:

                                60%                         50%                             25% 

1 BR                    $32,850                   $27,000                      $12,450

2 BR                     $39,120                  $32,100                       $15,000

 

SAGE POND PLACE

Type 1

60%

Household Size |  Annual Income Range | 1 Bedroom/49 units

1                             $30,750 – $43,860          $1,025

2                             $30,750 – $50,100         $1,025


Household Size | Annual Income Range | 2 Bedroom/10 units

2                             $36,000– $50,100         $1,200

3                             $36,00– $56,340           $1,200



Type 2

50%

Household Size | Annual Income Range | 1 Bedroom/ 13 units

1                             $26,250 – $36,550          $875

2                             $26,250 – $41,750          $875



Type 3

25%

Household Size | Annual Income Range | 1 Bedroom/ 5 units

1                             $12,450 – $18,275           $415

2                             $12,450 – $20,875          $415



No Income Limits Apply to Market Units rent @ $1,100 (1 Bedroom/7 units)

 

AMSTON VILLAGE

60% Tax Credit

Household Size |  Annual Income Range | 1 Bedroom/8

1                               $39,996 – $48,420          $1,000

2                              $39,996 – $55,320           $1,000


Household Size | Annual Income Range | 2 Bedroom/1

2                              $45,000– $55,320         $1,125

3                              $45,000– $62,220         $1,125



60% High Home

Household Size | Annual Income Range | 1 Bedroom/16

1                              $28,000 – $48,420          $700

2                             $28,000 – $55,320           $700


Household Size | Annual Income Range | 2 Bedroom/2

2                              $36,960– $55,320         $905

3                              $36,960– $62,220         $905


50% Low Home

Household Size | Annual Income Range | 1 Bedroom/4

1                              $28,000 – $40,350           $700

2                              $28,000 – $46,100           $700


Household Size | Annual Income Range | 2 Bedroom/2

1                              $36,390– $46,100         $905

2                              $36,390– $51,850         $905

 

STONECROFT VILLAGE

Household Size |  Maximum Monthly Income

1                              $52,850          

2                              $60,400

1 Bedroom

Minimum Base Rent - $593 (*minimum monthly income: $1483)

Maximum Rent $ 875

The minimum base rent is formulated from 40% AMI of the area maximum allowable rent.

The maximum rent is according to HUD Fair Market Rent of the area.


Rent is the higher of:

  1. 30% of household income minus the current utility allowance.

Not to exceed Market Rate

  1. Minimum Base Rent


*Each household must be able to afford the minimum base rent not to exceed 

40% of the household income.  

Portable Vouchers and Subsidy is welcome.

 

HILLSIDE TERRACE

Minimum Base Rent $577 (*minimum monthly income: $1443)

Maximum Rent $903


1 Bedroom  

Minimum Base Rent $613 (*minimum monthly income: $1533)

Maximum Rent $1018


Maximum Income Limits:

1 person   $55,950

2 people   $63,950



The minimum base rent is formulated from 50% AMI of the area maximum allowable rent.

The maximum rent is according to HUD Fair Market Rent of the area.


Rent is the higher of:

  1. 30% of household income minus the current utility allowance.

Not to exceed Market Rate

  1. Minimum Base Rent


*Each household must be able to afford the minimum base rent not to exceed 

40% of the household income.

 

NEW ALGIERS

Project Based Section 8 Contract with HUD.
The households pay 30% of their adjusted monthly income for rent.
Income guidelines are per HUD which are published annually.

 

VICTORIA GARDENS

60% Tax Credit

Household Size |  Annual Income Range | 1 Bedroom/23

1                               $31,350 – $43,260       $1,045

2                              $31,350 – $49,440        $1,045

Household Size |  Annual Income Range | 2 Bedroom/2

2                               $37,500 – $49,440      $1,250

3                              $37,500 – $55,620       $1,250

50% Tax Credit

Household Size |  Annual Income Range | 1 Bedroom/27

1                               $25,950 – $26,050      $865

2                              $25,950 – $41,200       $865

Household Size |  Annual Income Range | 2 Bedroom/2

2                               $30,900 – $41,200      $1030

3                              $30,900 – $46,350       $1030

25% Tax Credit

Household Size |  Annual Income Range | 1 Bedroom/18

1                               $12,600 – $18,025       $420

2                              $12,600 – $20,600       $420

No Income Limits Apply to Market Units rent @ $1,125 (1 Bedroom/17 units) 

                                                                                  @ $1,340 (2 Bedroom/1 unit)

 

WORTHINGTON MANOR

1 Bedroom

Minimum Base Rent $732 (*minimum monthly income: $1830)

Maximum Rent $964


Maximum Income Limits:

1 person   $52,850

2 people   $60,400



The minimum base rent is formulated from 50% AMI of the area maximum allowable rent.

The maximum rent is according to HUD Fair Market Rent of the area.


Rent is the higher of:

  1. 30% of household income minus the current utility allowance.

Not to exceed Market Rate

  1. Minimum Base Rent


*Each household must be able to afford the minimum base rent not to exceed 

40% of the household income.