APARTMENT ASSOCIATION OF FORT WAYNE-NE INDIANA, INC.

Looking for an apartment that will either base your rent on income or have income guidelines that you must meet?

There are several options available to you in northeast Indiana, including Public Housing, Housing Choice Vouchers (also known as Subsidized or Section 8 Housing), and Tax Credit or Section 42 Housing. Each program has different requirements, so we have listed some basic information below. There are also lists at the bottom that you can download that tell you which Apartment Association member properties participate in each program. For additional details or specific questions, you would need to call the participating apartment community directly.

What are Section 42

Tax Credit Properties?

The Rental Housing Tax Credit (RHTC) is a tax incentive program established under Section 42 of the Internal Revenue Code to provide an incentive to developers to provide affordable rental housing. These federal income tax credits offset the building acquisition, new construction, and/or substantial rehabilitation costs for rental housing developments. Rental Housing Tax Credits (RHTCs) are allocated to for-profit and not-for-profit developers of affordable rental housing. In exchange for the financing provided through the tax credit, developers agree to keep rents affordable for a period between 15 and 30 years. Units financed with RHTCs must be rented to persons at or below 60% of the area median income. RHTC rental properties are privately owned and managed.

For specific information on the tax credit program and eligibility requirements to live at a property that has tax credits, you must call the specific property that you are interested in.