Gateway Apartments-John Hamm lll

1676 Market St, Madison, Illinois 62060

55-1,2,3, 4 & 5 bedroom units located in Madison , IL. 

 

Managed by Madison County Housing Authority

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Gateway Apartments-John Hamm lll Details

  • 78 bedroom units.
  • Public Housing
  • Low-Income Housing Tax Credit (LIHTC)

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.

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.

Madison 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 Madison but actual income limits may differ for units at Gateway Apartments-John Hamm lll .

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

Gateway Apartments-John Hamm lll is managed by Madison County Housing Authority.

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