Affordability & Rents
The West Newton Armory redevelopment will be affordable to households earning up to 30% and 60% of the metro area median income, or AMI.
Apartment Size
Of the 43 apartments in the development, 15 apartments will be restricted to households earning up to 30% AMI, and 28 apartments will be restricted to households earning up to 60% AMI.
Proposed Apartment Size and Affordability
1 BR 2 BR 3 BR Total
30% AMI 4 8 3 15
60% AMI 11 13 4 28
TOTAL 15 21 7 43
Rent Limits
The rents at the West Newton Armory will be determined by the funding programs used to finance the redevelopment.
Apartments that are restricted to households earning up to 60% AMI will have rents set by the Federal Low-Income Housing Tax Credit (LIHTC) Program. The Federal LIHTC Program sets maximum rents based on the metro area median income, which may be further reduced to account for utilities paid by residents. Final rents for the 60% AMI apartments will be set when the apartments are advertised and leased.
Example: Maximum LIHTC Rents 2022
APARTMENT SIZE 60% AMI
1 Bedroom $1,578
2 Bedroom $1,893
3 Bedroom $2,187
Source: Novogradac Rent & Income Limits 2022, Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
Apartments that are restricted to households earning up to 30% AMI will be supported by project-based rental assistance, meaning that each household will pay a set percentage of its income towards rent (typically 30% of income).
Income Limits
Income limits for the development will be based on the median incomes for the metro area. The U.S. Department of Housing and Urban Development (HUD) metro area for Newton is the Boston-Cambridge-Quincy, MA-NH HUD Metro Fair Market Rent Area. Exact income limits will depend on the size of the household and are adjusted every year.
Example: Federal LIHTC Program Maximum Income Limits 2022
HOUSEHOLD SIZE 30% AMI 60% AMI
1 Person $29,460 $58,920
2 Person $33,660 $67,320
3 Person $37,860 $75,720
4 Person $42,060 $84,120
Source: Novogradac Rent & Income Limits 2022, Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
Who will live at the Armory?
Example households who would qualify to live at the West Newton Armory:
30% AMI
• Two new parents, one who works next door at Trader Joe’s full-time at $16/hour, and the other who is a full-time caretaker for their child, earning $33,000/year (2-bedroom apartment).
• A part-time librarian who also picks up shifts at a local restaurant, earning $32,000/year, and is the primary caretaker for a teenage daughter (2-bedroom apartment).
60% AMI
• An early career public school teacher with a bachelor’s degree earning $54,000/year. (1-bedroom apartment).
• A family of four—one parent lost their job due to the pandemic, the other is a registered nurse at Newton Wellesley Hospital earning $75,000/year (3-bedroom apartment).