Section 42 apartment Income restrictions.

[slakjaw]

I made an appointment to go look at an apartment today and when I got there they told me there was an income restriction. The place is $1000.00 a month for a 1 bedroom but you can't make over $35,200 per year. How does this compute? If I made 35k per year I would never dream of looking at a place with rent this high.

WTF?

[kaisen]

And 36% of your gross income can go to rent/mortgage at that income level, iirc

[red-beard]

Originally Posted by slakjaw

I made an appointment to go look at an apartment today and when I got there they told me there was an income restriction. The place is $1000.00 a month for a 1 bedroom but you can't make over $35,200 per year. How does this compute? If I made 35k per year I would never dream of looking at a place with rent this high.

WTF?

I had an apartment for rent at $500/mth and I wouldn't even consider anyone making less than $18,000/yr.