Experience Exceptional
Living in Urbana, IL

Because of program requirements, households made up entirely of full-time students must meet one of the following exceptions to qualify:

• At least one student is married and files a joint tax return.
• At least one student is enrolled in a job training program receiving assistance under the Job Training Partnership Act or a similar federal, state, or local program.
• At least one student was formerly in foster care.
• At least one student receives Temporary Assistance for Needy Families (TANF) benefits.
• The household consists of a single parent and their children, and neither the parent nor the children are claimed as dependents by another individual.

To qualify for a LIHTC home at Aspen Court, your household’s gross (pre-tax) annual income must be within the limits listed below. The income limits provided reflect the highest set-aside offered at our community and may not represent every home available. Some homes may have lower income limits based on their designated program requirements. If you have questions about your eligibility, please reach out — we’re here to help!

• 1 Person per Household - $42,420

• 2 People per Household - $48,480

• 3 People per Household - $54,540

• 4 People per Household - $60,540

• 5 People per Household - $65,400

What is the Low-Income Housing Tax Credit (LIHTC) program?
The LIHTC program was created to make quality housing more affordable. It allows communities like Aspen Court to offer homes at reduced rental rates to households that meet specific income and eligibility guidelines.

How do I know if I qualify for a LIHTC home?
Eligibility is primarily based on your household’s gross (pre-tax) annual income and full-time student status. Review the Students and Income Limits sections above for more information. Our team is also available to answer any questions you have along the way!

Are all homes at Aspen Court part of the LIHTC program?
Yes, every home at Aspen Court is income-restricted through the LIHTC program. All residents must meet the program’s income and eligibility requirements to qualify.

What if my income is over the limit?
Because all homes at Aspen Court are income-restricted, households exceeding the income limits would not qualify. If you’re unsure where you stand, reach out to our team — we’re happy to walk through your options with you!

Do I have to be a first-time renter to qualify?
No, you do not have to be a first-time renter. Your eligibility is based on your income and student status, not your rental history.

What happens if my income changes after I move in?
If your household income increases after you move in, you are usually allowed to remain in your home. However, certain program rules may apply if your income increases significantly. Our team will guide you through any necessary next steps if needed.

Can full-time students live in a LIHTC home?
Yes, but with some restrictions. If all household members are full-time students, you must meet one of the specific exceptions listed in the Students section to qualify.

What documents will I need to provide?
You’ll be asked to provide documentation verifying your household income, student status (if applicable), and other standard application information. Our leasing team will provide a full checklist to help make the process easy!