Income Restriction FAQ

What does "income-restricted" mean for Park at Penrose?

Income-restricted housing means that apartments are available at a discounted rate for individuals or households whose income is 50% or 80% or less of the area’s Average Median Income (AMI). This allows eligible residents to enjoy our homes at an affordable price. Please contact our team for more details on which you’d qualify for.

How do I qualify for an 80% AMI income-restricted apartment at park at Penrose?

To qualify for an 80% AMI income-restricted apartment, single occupancy residents must have an annual income less than $63,000. Double occupancy residents must have a combined annual income less than $72,000. Income documentation will be required and verified during the application process. Please see chart for additional persons income limit

How do I qualify for an 50% AMI income-restricted apartment at park at Penrose?

To qualify for an 50% AMI income-restricted apartment, single occupancy residents must have an annual income less than $39,400. Double occupancy residents must have a combined annual income less than $45,000. Income documentation will be required and verified during the application process. Please see chat for additional persons income limit

What types of income documentation will I need to provide?

Applicants will need to submit various forms of income documentation, which may include recent pay stubs, tax returns, and other proof of income. Our leasing agents will guide you through the documentation process to ensure you meet the eligibility requirements.

How can I apply for an income-restricted apartment At Park at Penrose?

You can apply by clicking the "Apply Now" link on our website. If you have any questions or need assistance with the application process, our friendly leasing agents are available to help.

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