Storey Manor

40 Manor Dr, Alton, Illinois 62018

Contact Storey Manor

Message Storey Manor

Storey Manor Details

  • 50 bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Alton 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 Alton but actual income limits may differ for units at Storey Manor.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $19,950 $22,800 $25,650 $28,450 $32,470 $37,190 $41,910 $46,630
50% $33,250 $38,000 $42,750 $47,450 $51,250 $55,050 $58,850 $62,650
80% $53,150 $60,750 $68,350 $75,900 $82,000 $88,050 $94,150 $100,200

Alton Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Alton but actual income limits may differ for units at Storey Manor.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $33,250 $38,000 $42,750 $47,450 $51,250 $55,050 $58,850 $62,650
Low Income (60%) $39,900 $45,600 $51,300 $56,940 $61,500 $66,060 $70,620 $75,180

Storey Manor is managed by Independent Management Services.

Nearby Low Income Apartment Communities

Skyline Towers

3113 Washington Ave
Alton, Illinois
Call For Rent
1 BR
Accessible
62+

Landings at Belle Meadow

3200 Belle St
Alton, Illinois
Call For Rent
1-4 BR
Subsidized

Hillcrest Apartments

1710 Munyvista Drive
Alton, Illinois
Call For Rent
1 BR
Subsidized

Community Of Sunnybrook

767 Washington Avenue
Alton, Illinois
Call For Rent
1-3 BR