Income Limits

Apartments at the Ramona are available to households earning up to 60% 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 2016, the incomes for the Portland area that apply to the Ramona are as follows:

 

HUD Median Family Income (MFI) for 2016

 

Household Size

 

60% MFI

 

1

 

$30,840

 

2

 

$35,220

 

3

 

$39,600

 

4

 

$43,980

 

5

 

$47,520

 

6

 

$51,060

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.