How the rents are set

Tax-credit rents are computed, not typed: 100% AMI × the HUD household-size factor for the bedroom count × the unit's income limit × 30% ÷ 12, less the utility allowance, and never above the market comparable. Change the AMI or move a home between income tiers in the unit-mix table and the rents, the income-averaging test, the tax-credit basis and the city gap all follow.

The income-averaging election requires the tax-credit homes to average 60% of AMI or less; this mix averages …. Income limits and utility allowances are illustrative and are confirmed against the current IHDA schedule before application.