Income Guidelines vs. Variable Pricing Structure
apply to affordable housing which can vary from 30 – 40 -50 - 60% of
the area median income in the specific city in which to property is
built. You need to determine which
property and then that city has
its federally established guidelines, for which your monthly income
cannot exceed a certain amount, based on HH of 1 person or 2 persons
or 3 persons.
Variable Pricing Structure meets the needs of BOTH affordable housing and MARKET RATE apartments that are offered on the same property. Market Rate units have no maximum income guidelines, and usually have upgrades (marble counter, upgraded sinks, tubs, hardware etc..) Be sure to check with the property you're considering as they can give you the specific guidelines for "affordable" or determine if market rate is your best option.
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