Frequent Asked Questions

The Low Income Housing Tax Credit Program (LIHTC), created by the federal government in 1986, encourages private developers to build and manage affordable housing for low- and moderate-income households

At a LIHTC community:

• Rents are typically below market rate for qualified residents

• Rents will vary based on Area Median Income (AMI) percentage for each specific unit

• Eligibility is based on household income limits

At an affordable housing community with income restrictions, households must make enough to be able to afford the rent while household income also remains under the income restrictions.

• Income eligibility limits based on household size

• A minimum household income requirement

We accept Housing Choice (Section 8) vouchers from local housing authorities.

Notes:

• Income limits are based on Area Median Income (AMI) and are determined annually by HUD.

• Limits may vary by unit type and program requirements.

• Some apartments may be restricted to specific AMI levels.

• LIHTC Program:

  • Offers reduced rent based on Area Median Income (AMI)

  • Income is verified and certified by the property annually

• Section 8 Program:

  • Provides rental assistance through a housing authority

  • Rent subsidies are administered directly to the resident or landlord

Please contact the leasing office to set up a time to complete an application.

Residents who qualify may experience:

• Rent rates that are often lower than comparable market-rate apartments

• Quality housing with modern features and community amenities

• Stable, regulated rent increases tied to HUD guidelines

Applicants may be denied if they:

• Do not meet resident selection criteria identified in the Tenant Selection Plan

• Annual income exceeds maximum income limits during initial qualification

• Cannot fulfill lease terms or occupancy requirements

• Does not provide required income/asset documentation

• Are full-time students without qualifying exemptions

Student Exemptions Include:

• Participation in TANF (Title IV assistance)

• Former foster care status

• Enrollment in a qualifying job training program

• Single-parent households meeting dependency requirements

• Married individuals eligible to file jointly

Yes. Residents may be required to:

• Complete annual income recertification

• Provide updated documentation

After move-in, income may exceed limits, but initial qualification must meet requirements.

All income sources must be disclosed and documented, including:

• Wages, bonuses, tips, or commissions

• Social Security or child support

• Unemployment benefits

• Monetary gifts

• Income from assets or investments

• Based on Area Median Income (AMI) for the region

• Established annually by HUD

• Rent is calculated by:

  • Bedroom size (not household size)

  • A percentage of AMI

• Rent typically adjusts annually

• Changes are based on updated HUD income and rent limits