The building is funded by HUD, rent is based off 30% of gross income. For those who are 62 or over, handicapped or disabled, medical expenses can be used in determining rent. We have a rent structure that meets requirements of most income levels; please call the property to find out the current qualifications
These twenty 1, 2, and 3 bedroom townhomes have an amazing view of the hills. We offer you a large playground, picnic area, on-site laundry, and off street parking.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
1 BR (1/1) | - | Income Based |
2 BR (2/1) | - | Income Based |
3 BR (3/2) | - | Income Based |
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Hot Springs but actual income limits may differ for units at Majestic View Townhouses.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
30% | $17,450 | $19,950 | $24,860 | $30,000 | $35,140 | $40,280 |
50% | $29,050 | $33,200 | $37,350 | $41,500 | $44,850 | $48,150 |
80% | $46,500 | $53,150 | $59,800 | $66,400 | $71,750 | $77,050 |
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.