Apartments at the Ramona are available to households earning up to 60 percent of the Median Family Income (MFI) for the Portland metropolitan area. Income levels are published once each year by the federal Department of Housing and Urban Development (HUD).
For 2014, the incomes for the Portland area are as follows:
|Household Size||60% MFI|
Here are a few of the steps in determining income eligibility. This is not meant to be a complete list. Contact our leasing staff for more details.
- Prospective tenants need to qualify based on household income – adjusted for their household size – at the time of their initial lease.
- Your income can exceed this threshold later with no impact on your occupancy or your rent.
- Income calculations may include assets or other non-employment income. Our leasing staff can provide more details.
- The leasing staff will verify all sources of income when you apply. Even though a future increase in income will effect your eligibility, the staff needs to re-certify incomes every year while you live here.
Income is defined as the gross amount of income anticipated to be received by all members of the household, with some exceptions, during the twelve (12) month period following the certification. Income includes, but is not limited to:
- Employment income
- Self-employment income
- Social Security, pensions, SSI, or disability income
- Unemployment compensation
- Alimony or child support payments
- Recurring contributions and gifts
- Income from assets – interest, stocks, bonds, real estate, etc.
In most cases, your income can increase later with no impact on your eligibility or your rent.