2014 Affordable Housing in NMS Santa Monica Apartments

In comparison to other metropolitan cities in the United States, living in a Los Angeles apartment is not inexpensive.  Add living in a Los Angeles apartment that is close to the ocean and you’ve almost doubled your monthly rent payment!

Luckily, through its Housing Division, the City of Santa Monica works with private developers to build affordable apartments in Santa Monica in order to make renting a Santa Monica apartment for low and moderate income households and individuals a higher possibility.  This is possible by offering lower than average rental rates and by setting maximum allowable income guidelines in order to qualify for those lower rents.

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It is important to note that the Affordable Housing program for apartments in Santa Monica is not the same as HUD or Section 8 Housing.

The 2014 guidelines set by the City of Santa Monica in order to qualify for one of these apartments in Santa Monica are as follows:

For one person, the minimum amount of gross income that must be made is $40,000 per year and the maximum allowable gross income $59,800.
For two people, the minimum amount of gross income that must be made is still $40,000 total per year, however, the maximum allowable gross income is $68,400.

In addition, the applicant(s) must meet the properties criteria for credit report approval.

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NMS Properties is proud to have several Santa Monica apartments as part of this program!  If you are interested in more information, contact the NMS Affordable Leasing Gallery at (310) 434-9945 and the NMS Limited Gallery at (310) 393-9330.