Section ? Show floor plans +prices 1 bedroom
Great question! We participate in the moderate income housing program here at ElanHB. The minimum income required is 2.5 times the rental amount. The amount of the voucher you receive is put towards your income to qualify for an apartment. If for example the voucher says it is good for up to $1600 in rent and rent is lets say $1849 for our 1-bedroom moderate income housing program. The minimum income would be $4,622.50 monthly or $55,470 yearly. In this example the $1600 would go towards the income to qualify, so you would need to provide the documents required by the program to show that you make the difference of $3,022.50 per month or $36,270 per year. Since the minimum to qualify for a 1-bedroom in this example is $55,470 you just take away the $19,200 from the value of the voucher and the remaining amount is what you need to show to qualify. The numbers may differ based on the rent of the apartment you want and the value of the voucher so please feel free to reach out to us at any time with questions.
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