Income-restricted (often LIHTC) homes cap rent using HUD income limits based on household size and gross annual income. This keeps monthly rent aligned with local affordability guidelines.
Income-Restricted Apartments in Madison
The Flats at 402 offers modern, income-restricted apartments designed to keep quality living accessible. Qualified residents enjoy the same finishes, layouts, and community perks as all other residents—at rent levels aligned with HUD income guidelines for Dane County.
Income Limits – Dane County
Income Limit % |
1 Person |
2 Persons |
3 Persons |
4 Persons |
5 Persons |
|---|---|---|---|---|---|
50% |
$45,450.00 |
$51,950.00 |
$58,450.00 |
$64,900.00 |
$70,100.00 |
60% |
$54,540.00 |
$62,340.00 |
$70,140.00 |
$77,880.00 |
$84,120.00 |
Understanding Income-Restricted Housing
Maximum income is determined by household size and is based on gross annual (pre-tax) income. Moderate-income and student status restrictions apply. Units cannot be entirely occupied by full-time students. Some exemptions apply—contact us for details. (Pricing, inclusions, and eligibility subject to change.)
Frequently Asked Questions
Is this the same as Section 8 or voucher programs?
No. No voucher is required. Residents apply directly through our leasing office; eligibility is based on HUD limits for Dane County rather than a third-party subsidy.
Do income-restricted residents get different finishes or fewer amenities?
No. Residents at The Flats at 402 enjoy the same apartment features and community amenities as all other residents.
How do I qualify?
Your gross household income must be at or below the limit for your household size (see table). Additional program rules apply (including student status). Our team will confirm eligibility.
What counts as income?
Most recurring sources, including wages/salaries, Social Security, pensions, disability, and certain benefits. We’ll provide a clear checklist during the application.
How often do income limits change?
HUD updates limits annually. We use the most current figures for Dane County during verification and each annual recertification.
What is the housing tax credit (LIHTC) program?
LIHTC supports the creation and preservation of quality, affordable housing. Communities like The Flats at 402 cap rents using HUD limits, allowing eligible residents to live well within their budget.
What is the application process like?
Simple: inquire → submit documents → verification → approval and lease signing. Our team walks you through every step.
Ready to See If You Qualify?
We’re here to help—from eligibility questions to next steps. Contact The Flats at 402 to review availability, confirm requirements, and start your application.