The Cameron participates in the Housing Tax Credit affordable housing program. Household maximum income limits and full-time student status limitations apply. Your household income is based on gross annual income (before taxes and any deductions) from all sources including, but not limited to: employment, social security, unemployment, child support, public assistance, pensions, annuities, interest income, stocks, dividends, bonds, insurance settlements, recurring gifts from family/friends, lottery winnings, etc.

To accommodate different household income levels, The Cameron offers affordable homes with income and rent restrictions based on HUD guidelines.

Documentation will be required of all income, assets, and student status for all household members. Total gross household income must be under the following limits based on household size:

• 1 Occupant: $55,620
• 2 Occupants: $63,600
• 3 Occupants: $71,520
• 4 Occupants: $79,440
• 5 Occupants: $85,800
• 6 Occupants: $92,160

Occupancy Standards (Maximums)

• 1 Bedroom: 3 Occupants
• 2 Bedroom: 5 Occupants

Rent is not based on the household's income. The rent amount stays the same every month for the full term of your one-year lease.

The property has a minimum household income requirement of 2 times the monthly rent amount to qualify. For example, if the monthly rent on the apartment you are applying for is $1,616, the minimum monthly household income (before taxes) needs to be $3,232.00/month or $38,784.00/year to qualify.

The Cameron accepts Section 8 Housing Choice Vouchers and other forms of rental assistance. Please confirm your maximum payment standard with your housing case worker before applying for a faster process.

Is this income-based housing?

No, this is what is called income-restricted housing. The rent amount of the apartment stays the same regardless of any changes to your income level. With income-based housing, the rent amount you owe each month can change based on any changes to your income.

What if I get a raise or make more money?

You will be required to re-certify your income on an annual basis. However, you are allowed to exceed the Maximum Income Limits once initially qualified at move-in. Full-time student status restrictions remain in place at all times.

Whats included in the income calculation?

Appropriate documentation of all income sources must be provided before being approved for the home. Income sources include but are not limited to:

• Wages or Bonuses / Tips or Commissions
• Child Support / Social Security
• Monetary Gifts / Unemployment
• Income from Assets and Investments

How do I determine my student status?

You may not qualify for Tax Credit affordable housing at The Cameron if ALL household members are Full-Time Student(s) and do not meet one of the following:

• Receive the County grant called Minnesota Family Investment Program (MFIP)
• Are in a qualifying job training program such as:
  1. The Partnership Act
  2. Workforce Investment Act
  3. Or other similar federal/state/local program
• Are a single parent with child(ren) and no one else can claim you as a dependent
• Are married and filing a joint tax return
• Have a student under the care and placement of a state agency responsible for administering foster care

Who determines the rent and income levels?

The income limits for our community are based on the Area Median Income for the geographic area. This is evaluated by HUD (Housing and Urban Development) and may change from year to year based on how the economy is performing. The rents are determined based on the number of bedrooms, not the number of occupants. Tax Credit apartments have rental rates based on a percentage of the area median gross income, resulting in eligible residents paying a lower percentage of rent than at a market rate community.

How often will my rent increase?

HUD releases new income and rent limits for Tax Credit Housing around the same time each year. Your rent may increase annually based on the new income and rent limits. The increase would occur at the end of your current lease term and not more than once in a 12-month period.