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2023 Multifamily Tax Subsidy Income Limites

 

2023 Multifamily Tax Subsidy Income Limites

All income limits shown in the following table are applicable in low-income housing credit projects that are using the income averaging test for compliance subsequent to the Consolidated Appropriations Act of 2018, Pub.L. No. 115-141, 132 Stat. 348 (SEC. 103.). Please note, some programs may use different income limits.
Our property managers can help you determine your income level and if you qualify for low-income housing.

Set-aside Percentage1-Person2-Person3-Person4-Person5-Person6-Person7-Person8-Person
30%28,77032,88036,99041,10044,40047,70050,97054,270
40%38,36043,84049,32054,80059,20063,60067,96072,360
50%47,95054,80061,65068,50074,00079,50084,95090,450
60%57,54065,76073,98082,20088,80095,400101,940108,540

In order to qualify for an apartment, you must know how your income compares to the income limits determined by the Department of Housing and Urban Development. Our residents typically earn between 0-60% of AMI.

The set-aside percentage is effectively your income level, relative to those income limits. These levels correspond with tiered rent levels in our apartments. Most buildings have apartments reserved for people in the 30%, 40%, 50%, and 60% ranges.

The income listed in the chart is the maximum income you can have for that type of apartment.

Step one: Calculate your gross total household income. Include any child support, TANF, etc.

Step two: Count up all the members of your household.

Step three: Look at the chart below. Start by finding your household size

Step four: The numbers in the column below household size are the maximum household income for that set-aside percentage. Find where your household size meets with your gross income. The percent on the left is your Area Median Income.

Step five: Look at Our Communities page for communities that match your AMI.

Step six: Contact the property manager(s) to ask about the building(s) you are interested in.

How to use the table above:
Find your household size, then find the number that matches your household’s income. The set aside percentage on the far left is where you qualify.

For instance, if Mary is single and has two children, she has a 3-Person household. Her total household income is 32,000 dollars a year. She is in the 30% set-aside percentage. She would qualify for a 30% unit.

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Click here to see theMultifamily Tax Subsidy Project Income Limits Summary as a PDF