Income limits and maximum rents

Owners of affordable buildings need to follow these guidelines when renting 4d units.

Area Median Income (AMI) requirements

Recent changes

On Nov. 14, 2024, the City Council approved these changes to the guidelines.

  • It reduced the rent and income restrictions for studio and one-bedroom units. It is now 50% Area Median Income (AMI).
    • Units enrolled prior to Fall 2024 application cycle, will continue to follow the 60% AMI guideline.
    • Units that have two or more bedrooms will continue to follow the 60% AMI guideline.

  • It approved adding buildings converting to residential into the 4d program. All units are limited to 60% or lower AMI.

Current guidelines

Unit size Current AMI Past AMI*
Studio/efficiency 50% 60%
1 bedroom 50% 60%
2 or more bedrooms 60% 60%
*This still applies to buildings that enrolled before Fall 2024

Income limits

2024 new renter income limits

When 4d units turn over, incoming renters must have incomes that do not exceed these amounts.

Houshold size 50% AMI 60% AMI
1 person $43,500 $52,200
2 people $49,700 $59,640
3 people $55,900 $67,080
4 people $62,100 $75,520
5 people $67,100 $80,520
6 people $72,050 $86,460
7 people $77,050 $92,460
8 people $82,000 $98,400

Maximum rents allowed, by type of unit

Residential properties

Single Room Occupancy (SRO) unit limits

  • If you enrolled before the Fall 2024 application cycle, the limit is $783.
  • If you enrolled after the Fall 2024 application cycle, the limit is $652.20.
Unit size 50% AMI 60% AMI
Studio/efficiency $1,087 $1,305*
1 bedroom $1,165 $1,398*
2 bedroom See 60% column $1,677
3 bedroom See 60% column $1,938
4 bedroom See 60% column $2,161
5 bedroom See 60% column $2,385
6 bedroom See 60% column $2,608
*This only applies to properties that enrolled before Fall 2024

 

Non-residential conversion properties

Unit size 60% AMI
Studio/efficiency $1,305
1 bedroom $1,398
2 bedroom $1,677
3 bedroom $1,938
4 bedroom $2,161
5 bedroom $2,385
6 bedroom $2,608

Contact us

4d Affordable Housing Incentive Program

Community Planning & Economic Development (CPED)

Email 4d Affordable Housing Incentive Program

Address

Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415