1 bedroom apartment milo maine4/23/2024 Renters qualify for different housing programs if their income is below a specified percentage of AMI. Income Qualification for Woodland Acres Apartments*AMI: Area Median Income. Since this property participates in the LIHTC and RD 515 programs, the property is required to accept Section 8 Housing Choice Vouchers. If you live in a rural area and need help paying your rent, this property may be good for you. These properties are almost always owned and managed by private/corporate owners or nonprofits. Since this property has benefited from the LIHTC program, it is likely to be in better condition and offer more amenities than other Section 515 properties. Some Section 521 properties do not offer rent subsidies to all of the units, so it is possible a person earning 50% or less of the AMI is placed on a subsidy waiting list, They would have to pay the full rent until their name comes up on the list. Since this property also participates in USDA's Section 521 Rental Assistance program, residents who earn 50% of the AMI or less may qualify for a subsidy that limits your rent payment to 30% of your income. However, this property also participates in the LIHTC program, so most or all units in the property are likely limited to persons earning 60% of AMI. To qualify for residency in a Section 515 property, you must earn 80% or less of Area Median Income (AMI). Dave's Thoughts On Woodland Acres Apartmentsīecause Woodland Acres Apartments participates in the USDA Section 515 Rural Rental Housing program, this property is likely located in a rural community and may be one of only a few rental housing choices in the area.
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