If you move in to a USDA-RD Federally Funded Property there's a chance you may receive Rental Assistance. Rental Assistance is a subsidy that is provided to persons currently living in USDA-RD Federally Funded Projects who fall at or below Low Income Limit guidelines. These Income Limit guidelines differ from county to county. As will be explained in more detail below, a person receiving Rental Assistance will pay rent equal to 30% of their Adjusted Monthly Income or 10% of their Gross Monthly Income (the greater of the two) less the utility allowance.
Property Type: USDA-RD
| Example Apartments |
1 BEDROOM |
2 BEDROOM |
|
Note Rate Rent
|
$385
|
$455
|
|
Basic Rent
|
$320
|
$380
|
|
Utility Allowance
|
$52
|
$59
|
Scott Shoberges Disabled
1 Child Dependant (Age: 10)
Savings Account Balance: $4,610.00 Interest Rate: 0.25%
Six Month Average Checking Balance: $210.00 Interest Rate: 0.00%
Employment Wages: $1,925.00 Monthly
Annual Medical Expenses: $3,120.00
Annual Child Care Expenses: $5,760.00
Household Income
|
Assets Income
|
$12.00
(From Interest on Savings)
|
|
Annual Employment Income
|
$23,100
|
Deductions
|
Dependent Allowance
|
$480
(Each Child)
|
Medical Deductions are given to those households that have an Elderly or Disabled Head, Co-Head/s, and/or Spouse. The Household is given a deduction from their annual income equal to their medical expenses minus 3% of their annual income.
An Elderly Deduction is given to those households that have an Elderly or Disabled Head, Co-Head/s, and/or Spouse. This deduction is only given once per household.
The Child Care Allowance is given to those households that have dependant children under the age of 13 who pay child care while they work, seek employment, or furthering his/her education.
|
|
Deduction for Elderly/Disabled Tenant or Co-Tenant/s
|
$400
|
|
Household Medical
|
$2,427
|
|
Child Care Allowance
|
$5,760
|
Total Household Income: $23,112.00
Total Deductions: $9,067.00
Scott Shoberges' Adjusted Annual Income: $14,045.00
Scott Shoberges Adjusted Annual Income does not exceed the Income Limit for Example County and falls in the catigory of Very Low Income. Now to see if he qualifies for the available Rental Assistance in a two bedroom apartment.
Monthly Adjusted Income: $1,170.00 multiplied by 30% less the utility allowance for a two bedroom unit at Example Apartments is equal to $292.00
30% of Scott's Adjusted Monthly Income minus the utility allowance for a two bedroom unit at Example Apartments is less than the basic rent for a two bedroom unit; Scott is eligable for Rental Assistance!
Scott's monthly rent payments will be $351.00 minus the utility allowance of $59.00
Scott will pay $292.00 a month for Rent!
