RENT OPTIONS

Upon application approval residents are required by HUD to choose between the Flat Rent Option or the Income Based Rent Option

 Flat Rents

Families who opt for the Flat Rent will be required to go through the income reexamination process every three years, rather than the annual review they would undergo using the income based rent method, although each family must elect a rent option at their ANNUAL evaluation. Families who opt for the Flat Rent may request to have an interim re-evaluation and return to the income based rent method at any time for the following reasons: a. The family’s income has decreased; b. The family’s circumstances have changed increasing their expenses for child care, medical care, etc.; c. Other situations as may be determined by the housing authority. The utility allowance is not permitted when the Flat Rent Option is selected. Flat rents are as follows:

Efficiency = $470

One Bedroom = $490

Two Bedroom = $640

Three Bedroom = $770

 

Income Based Rent

Income based rent is determined by a method determined by HUD using 30% of adjusted monthly income or 10% of unadjusted gross income.

Families who opt for the Income Based Rent which can be adjusted lower or higher if family’s income changes. By choosing Income Based Rent, it is understood that this rent determination method is effective until the next ANNUAL evaluation, and this rent amount may be higher than the flat rent amount under certain circumstances.

The following Utility Allowances are given to those not on Flat Rent:

Meadowlark Manor Utility Allowance

Efficiency = 150 kw

One Bedroom = 205 kw

Two Bedroom = 330 kw

Three Bedroom = 410 kw

 

South Park Utility Allowance

One Bedroom = $22

Two Bedroom = $33

Three Bedroom = $44