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By law, each development must set aside a minimum number of units for eligible low- or very low-income residents. Many LIHTC properties are operated as 55+ or 62+ communities, or senior apartments.
Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
Ann Arbor, Michigan. /  42.28139°N 83.74833°W  / 42.28139; -83.74833. Ann Arbor is a city in and the county seat of Washtenaw County, Michigan, United States. [7] The 2020 census recorded its population to be 123,851, making it the fifth-most populous city in Michigan. [8] It is the principal city of the Ann Arbor metropolitan area ...
The National Low Income Housing Coalition President and CEO Diane Yentel said the money from the first round has been distributed and about 60% of communities have programs open, which increases ...
DTI ratio. Calculate your DTI ratio using this formula: DTI = Monthly debt payments (including mortgage or rent) / monthly gross income x 100. Some lenders allow a DTI ratio as high as 50 percent ...
The median income for a household in the city in 2008 was $40,403, and the median income for a family was $49,448. The per capita income for the city was $19,390. About 10.0% of families and 12.4% of the population were below the poverty line, including 17.0% of those under age 18 and 7.6% of those age 65 or older.
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