LIHTC Program Income Guidelines

Gresham Station Apartments is a Section 42 Tax Credit Project which means that federal tax credit subsidies were given to help finance the property. Because of the subsidies received, the owner is required to hold the maximum rent charged at or below a level considered appropriate for the households that have incomes at or below 60% of the median household income for the county. This maximum rent that can be charged is calculated at 30% of the 60% of the median monthly household income less a utility allowance which is determined by the Department of Housing and Urban Development. Applicants must also qualify to live in the community by demonstrating that their annual household income is at or below 60% of the median income for the county where the community is located.

Below are two lists, one is the maximum household incomes allowed to qualify for residency based on the number of people in the household, and the second is the maximum allowable rent for the studio, one and two bedroom apartments.
Number of Occupants Maximum Household Income   Apartment Size Maximum Allowable Rent Limit

  50% 60%     50% 60%

1 $26,300 $31,560   Studio $582 $714
2 $30,050 $36,060   1 Bedroom $605 $746
3 $33,800 $40,560   2 Bedroom $722 $891
4 $37,550 $45,060
5 $40,600 $48,720
6 $43,600 $52,320

If your annual household income is at or below the amounts shown above, you may qualify to be a resident and eligible for our affordable rents. Before a final determination regarding your eligibility can be made, you must fill out an application and go through the verification process. The process is simple and is professionally conducted by our management staff. Please contact our property for more information. They will be happy to explain the program in more detail.