General Income Requirements for Occupancy
Heritage Towers Apartments is a Section 8 elderly housing complex which is designed for 62 years old or older, handicapped, or disabled.
- Income for one person households must be below $31,300
- Income for two person households must be below $35,800
- Income includes social security, retirement income, and interest income from savings, checking, and other investments
- Medical expenses that exceed 3% of income can be a deduction in rent
- Medical deductions include Medicare premiums, Medicare supplement insurance, payment plans for medical, dental, prescription drugs, over-the-counter medical items prescribed by physicians, etc.
- Rents are based on 30% of adjusted income
Other Qualifications
- Present and past credit history
- Present and past rental history
- Present housekeeping inspection
- Criminal background checks
- Occupancy goals 40% - extremely low income