Rent, which is referred to as the Total Tenant Payment (TTP), is based on your family’s anticipated gross annual income less deductions, if any. The Department of Housing and Urban Development (HUD) regulations allow housing authorities to exclude from annual income the following allowances: $480 for each dependent; $400 for any elderly family, or a person with a disability; and some medical deductions for families headed by an elderly person or a person with disabilities. Based on your application, the Housing Authority will determine if any of the allowable deductions should be subtracted from your annual income. Annual income is the anticipated total income from all sources received from the family head and spouse, and each additional member of the family 18 years of age or older.
The formula used in determining the TTP is the highest of the following, rounded to the nearest dollar:
- 30 per cent of the monthly adjusted income. (Monthly Adjusted Income is annual income less deductions allowed by the regulations);
- 10 per cent of monthly income;
- Welfare rent, if applicable; or
- A $50 minimum rent.