When looking for a place to live most people don't even realize they are eligible for affordable housing. Most people assume they either make too much or the process is too complicated when in reality, affordable housing programs are designed to serve a wide range of income levels. This includes working professionals, families, and renters of all kinds, not just low-income households. Roost then makes this process simpler by centralizing and calculating these factors all in one place to find the right home for you.
How do affordable housing income limits work?
Affordable housing programs determine income limit eligibility using Area Median Income (AMI) percentages. AMI represents the midpoint of household incomes in a particular area. The housing programs use percentages of AMI to establish how much a household can earn while remaining eligible for certain apartments.
In areas like King County or Seattle, AMI limits vary depending on the affordable housing program. For instance, Seattle's MFTE program has tiers ranging anywhere from 40% AMI up to MFTE Program 7's 90% AMI limit. That means an individual earning up to about $100,000 could still qualify for an apartment in Belltown or Ballard.
Household size and income
Affordable housing income limits are adjusted based on the number of people in your household. Because HUD and local housing authorities adjust AMI limits by household size, a single renter looking at a 1-bedroom apartment in Shoreline or Redmond faces a tighter cap than a family of four applying for a 2-bedroom unit in the same property.
Income increases
An increase in income doesn't always mean you'll have to move out of your affordable apartment. Under most Tax Credit (LIHTC) and Seattle MFTE guidelines, you don't instantly get evicted if you get a raise. Many programs let your household income grow after you move in. Tax Credit (LIHTC) households stay eligible up to 140% of the income limit, and Seattle MFTE households up to 1.5 times the limit (capped at 115% AMI), at annual recertification.
Find affordable housing that fits your income
Ready to see what you qualify for? Explore available affordable apartments on Roost and take the next step toward finding your home!