Income requirements are based on Area Median Income (AMI) limits, which vary by household size and unit designation. Please see the lottery page for more details.
Income Limits & Rents
Rents & Income Limits
| Bed | # of Apts. | Rent | Income Limit |
|---|---|---|---|
| Studio | 6 | $1,240 | 60% |
| Studio | 5 | * | 50% |
| 1 BR | 6 | $1,310 | 60% |
| 1 BR | 2 | * | 50% |
| 2 BR | 22 | $1,580 | 60% |
| 2 BR | 2 | * | 50% |
| 2 BR | 4 | * | 30% |
| 3 BR | 1 | $1,820 | 60% |
| 3 BR | 1 | * | 50% |
| 3 BR | 4 | * | 30% |
∙ 5 mobility & 2 sensory unit available; 5 market apartments available
∙ * Applicants who have a housing choice voucher or qualify for a 30% or 50% unit are not subject to the minimum income requirements. Applicants will pay 30% of the HH income in rent based on the determination of the Public Housing Agency.
∙ Apartments set aside for households meeting HOME-ARP eligibility criteria, including those at risk of homelessness, income limits vary*. HOME-ARP Requirements
Maximum Incomes
| Household Size | 30% AMI | 50% AMI | 60% AMI |
|---|---|---|---|
| 1 | $26,190 | $43,650 | $52,380 |
| 2 | $29,940 | $49,900 | $59,880 |
| 3 | $33,690 | $56,150 | $67,380 |
| 4 | $37,400 | $62,350 | $74,820 |
| 5 | $40,400 | $67,350 | $80,820 |
| 6 | $43,400 | $72,350 | $86,820 |
Income, asset & use restrictions apply. Rents & income limits based on HUD guidelines and subject to change. For more information, language assistance, or reasonable accommodations for persons with disabilities please call 857.387.9725 or email baldwinville@peabodyproperties.com
Frequently Asked Questions
What does AMI (Area Median Income) mean?
AMI is the median household income for a region, determined annually by the U.S. Department of Housing and Urban Development (HUD). Affordable housing programs set eligibility limits based on a percentage of this income.
- For a 30% AMI apartment, the rent is determined by your income and cannot exceed 30% of your household income.
- For a 60% AMI apartment is an affordable home designed for households earning up to 60% of the average income in the area. Rents are set below market rate to ensure housing remains affordable for income-qualified residents. The rent for this type of unit is a fixed rent amount.
What qualifies as income?
Income includes employment wages, Social Security benefits, pensions, disability benefits, retirement distributions, and investment income.
What counts as an asset?
Assets include bank accounts, investment accounts, real estate, retirement accounts, trusts, or other financial holdings.
How are retirement accounts (e.g., IRA) treated?
Retirement accounts are generally counted as assets. If you are receiving dividends that amount will be considered income.
What if someone does not income-qualify but has significant assets?
Asset limits and income calculations will determine eligibility. Eligibility is determined in accordance with HUD guidelines, which consider both income and assets.
Are mobile housing vouchers accepted?
Yes, vouchers are accepted.