Affordable housing typically means housing that is reasonably priced for individuals and families with low to moderate incomes. This kind of housing is essential to ensure that persons at various income levels have access to safe, stable, and decent living conditions without having to spend too much of their income on housing. Affordable housing programs have limits to household income and rent.
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Do I Qualify ?
You may qualify for an apartment at Berry Ranch if you meet the following criteria:
- Your Annual Gross Household Income is below 30% or 60% of the Area Median Income for Multnomah County.
- Your household meets other criteria including number of persons in your household, credit and criminal criteria also apply. A detailed Resident Selection Criteria can be requested from the leasing team.
Frequently Asked Questions
What Type of Affordable Housing does Berry Ranch offer?
Berry Ranch has multiple types of affordable housing.All apartments are governed by Low Income Housing Tax Credit (LIHTC) program, with specific apartments also governed by other affordable housing programs. All the programs at Berry Ranch have income restrictions based on the number of people in the household. Some programs and apartments have other eligibility criteria.
What is the maximum/minimum income?
Maximum Income
Total gross (before taxes) household income must be less than the below
|
30% AMI |
60% |
|
|
1 Person |
$26,070 |
$52,140 |
|
2 Person |
$29,790 |
$59,580 |
|
3 Person |
$33,510 |
$67,020 |
|
4 Person |
$37,230 |
$74,460 |
|
5 Person |
$40,230 |
$80,460 |
|
6 Person |
$43,200 |
$86,400 |
|
7 Person |
$46,170 |
$92,340 |
Minimum Income
Minimum household income of two times the monthly rent required.
|
Rents |
30% |
60% |
|
1 BD |
$608 |
$1,306 |
|
2 BD |
$704 |
$1,542 |
|
3 BD |
NA |
$1,825 |
What sources of income are considered?
All sources of income are considered for most affordable housing programs. The includes employment, social security and SSI, Pensions, income from retirement accounts and investments, periodic gifts from family members and income from assets.
What would prevent my household from qualifying?
- All household members are Full Time Students (there are some exceptions to this rule, please check with the site team)
- Household income exceeds the maximum allowable or is less than the minimum required.
- Number of persons in the household does not meet the occupancy guidelines for the apartment(s) available
- For full list of reasons that a household may not qualify please see the Resident Selection Criteria
How long of lease do I have to sign?
Initial leases are all 12 months but after that will roll over to a month to month lease or it may be renewed for a specific term.
How often will my rent change?
Tax Credit rent increases are annual, but they are limited by what the regulatory agencies allow. Income and rent tables are updated each year.
These responses are not exhaustive, other guidelines and qualifications may also apply. Please refer to the Resident Selection Criteria for more information