Local Dripping Springs is a mixed-income community providing top-notch residences and amenity spaces. Along with market-rate rents, a portion of our well-appointed living spaces include affordable apartment homes for households searching for rent that aligns with their income. If this is what you are searching for, continue reading to find out how you may be eligible and how to apply!
Qualifying is easy:
The total households gross annual income must fall within the 80% area median income (AMI) limits for your household size. Below are the current income and rent limits to make it easy to find out if your household is eligible for the program!
How to apply:
To apply for the income-based affordable housing program, there are some simple steps to complete:
- Submit Application: Fill out an application that includes the household’s financial information.
- Income Information: All sources of income will be verified based on the application submitted. This may include but is not limited to:
- Paystubs
- Bank Statements
- Tax returns for the most two recent years
- Other potential income – SSI, Child Support, Cash Gifts, etc.
- Additional documents may be required depending on individual income.
Application Review:
Your application will be reviewed and processed through our Compliance Team.
Annual Income Limit 80%*:
- 1-person home may earn no more than $70,560 annually
- 2-person home may earn no more than $80,640 annually
- 3-person home may earn no more than $90,720 annually
- 4-person home may earn no more than $100,800 annually
- 5-person home may earn no more than $108,880 annually
Rent Limits 80%*:
- Studio rental limit: $1,764
- One-bedroom rental limit: $2,016
- Two-bedroom rental limit: $2,268
Ready to Apply?
Don't miss out on this exciting opportunity to live at Local Dripping Springs! Chat with us today to learn more about our affordable housing program and start your application process.
* Income & rent limits are based on the current 2024 maximum qualifications per apartment and are subject to change upon AMI updates.