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Income limits

Rents are affordable at the Sitka thanks to city, state, and federal financing earmarked for this type of apartment building.

We agree to keep the rents affordable for a long time and we agree only to rent to those households for whom this housing is targeted.

Income levels are published once each year by the federal Department of Housing and Urban Development (HUD).

For 2017, the incomes for the Portland area that apply to the Sitka are as follows:

HUD Median Income Percentages (MFI), Fiscal Year 2017 (Effective 04/14/2017)

Household Size

50% MFI

60% MFI

1

$26,300

$31,560

2

$30,050

$36,060

3

$33,800

$40,560

4

$37,550

$45,060

5

$40,600

$48,720

What's Available At The Sitka?

  • Unrestricted - 6 of the apartments have no restrictions on the income of the residents and the rents are set at market rates.
  • 60% of Median Family Income (MFI) - 131 apartments are available to households earning up to 60% of the MFI adjusted for their household size. (Households at this income level are also eligible to rent the 6 market rate apartments).
  • 50% of MFI – 72 apartments are available only to households earning up to 50% of MFI adjusted for their household size. (Households at this income level are also eligible to rent any apartment in the building.)

Calculating Income

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.
  • Tenants need to qualify based on household income – adjusted for their household size – at the time of their initial lease. 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 calculations may include assets or other non-employment income.
  • The leasing staff will verify all sources of income when you apply and will re-certify your income every year while you live here.

Defining Income

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.