A1 LURA 50

Description

The purpose of our LURA Apartment Homes is to provide affordable housing to low-income households by limiting the maximum rent that can be charged for a unit. This requires that our community only provides LURA homes for households with incomes that fall within 50%-65% of the Average Median Income. With the proper income qualification, you can enjoy an affordable apartment home at ReNew West Bloomington. Contact us today to see if you qualify for our LURA/Affordable Housing Program.

Our LURA Income Restricted Floorplans have income limits for applicants and may continue to limit income for residents pending re-certification. To determine income limits for affordable properties, the U.S. Department of Housing and Urban Development (HUD) charts the income from persons living in the greater Metropolitan Service Area (MSA) to establish a midpoint- the median income, known as the Area Median Income (AMI).

Maximum Income Limits:
1 person: 50% - $43,750; 65% - $56,875
2 people: 50% - $50,000; 65% - $65,000
3 people: 50% - $56,250; 65% - $73,125
4 people: 50% - 62,450; 65% - $81,185
5 people: 50% - $67,450; 65% $87,685