Since this property has received funding through the HUD Section 236 program and the Rental Assistance Program (RAP), a tenant who earns 50% of the Area Median Income (AMI) or less qualifies for rental assistance. The rental assistance limits the tenant rent contribution to the greater of 10% of their gross income, 20% of their adjusted income, or a designated portion of welfare assistance. If a tenant's income is above the 50% AMI level, they may still qualify to live here but not benefit from the rent subsidy.
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Michelangelo Apartments receives rental subsidies through HUD's Project Based Section 8 program for some or all of its apartments. Some units may be designated as market rate housing.
You can make up to 80% of the Area Median Income (AMI) and be eligible for a Project Based Section 8 Program unit. Market rate units would have no subsidies or income restrictions.
Figuring out income and rent limits for affordable housing can be complex when more than one Federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.