LIHTC Program Income Guidelines

Dear Prospective Resident:

Academy Heights Apartments is a Section 42 Tax Credit Project which means that federal tax credit subsidies were provided to help finance the property. Because of the subsidies received, the owner is required to hold the maximum rent charged at or below a level considered appropriate for households that have incomes at or below 30%, 60%, or 70% of the median household income for the county. The maximum rent that can be charged is calculated at 30% of the 30%, 60%, or 70% median monthly household income, less a utility allowance which is determined by the Department of Housing and Urban Development. Applicants must also qualify to live in the community by demonstrating that their annual household income is at or below 30%, 60%, or 70% of the median income for the county where the community is located.

Below are two lists: one is the maximum household income limits allowed to qualify for residency based on the number of people in the household, and the second is the maximum allowable rent for the, one, two, and three bedroom apartments.

Number of Occupants Maximum Household Income

  30% 60% 70%

1 $19,350 $38,700 $45,150
2 $22,110 $44,220 $51,590
3 $24,870 $49,740 $58,030
4 $27,630 $55,260 $64,140
5 $29,850 $59,700 $69,650
6 $32,070 $64,140 $74,830
7 $34,920 $68,580 $80,010
8 $36,480 $72,960 $85,120
Apartment Size Maximum Allowable Rent Limit

  30% 60% 70%

1 Bedroom $518 $1,036 $1,209
2 Bedroom $621 $1,243 $1,450
3 Bedroom $718 $1,437 $1,676

If your annual household income from all sources is at or below the amounts shown above, you may qualify to be a resident of Academy Heights Apartments and pay the below-market rent. Before a final determination regarding your eligibility can be made, you need to fill out an application and go through the certification process. The process is simple and is handled by the on-site management staff. Please see the site staff for more information. They will be happy to explain the program in more detail.

If applying for affordable housing please be aware that your household cannot be comprised completely of full time students. Full time students include any one that:

    Attends a school with facilities and regular student body.
      Attends school all or part of any 5 months of the year
      Is considered full-time by the school they attend
       Is an elementary, junior or senior high school student

Thank you for your interest in Academy Heights Apartments.