Southwest Arkansas Development

402 N Main St, Hope, Arkansas 71801

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Southwest Arkansas Development Details

  • 76 bedroom units.
  • Section 202 Supportive Housing for the Elderly

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

Hope HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Hope but actual income limits may differ for units at Southwest Arkansas Development.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,880 $17,420 $21,960 $26,500 $29,250 $31,400 $33,550 $35,750
50% $18,950 $21,650 $24,350 $27,050 $29,250 $31,400 $33,550 $35,750
80% $30,350 $34,650 $39,000 $43,300 $46,800 $50,250 $53,700 $57,200

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