Gassville Gardens

Eligibility for Gassville Gardens

Gassville Gardens Details

• 40 bedroom units.
• Section 538 Guaranteed Rural Rental Housing
• Low-Income Housing Tax Credit (LIHTC)

Section 538 Guaranteed Rural Rental Housing

Section 538 is an affordable rural rental housing program for households earning incomes at or below 115% of the area median income.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.