Shires Housing
Income Requirements
Most Shires Housing apartments have income restrictions based on our funding sources. We have four main types of income-restricted units: 50%, 60%, 80%, and market-rate. It is important to consider that each unit has its own restrictions, rather than us having a one-size-fits-all limit so you may qualify for some apartments and not others. You can find all of our available units listed with their specific income restrictions.
We primarily serve households making between 30% and 80% of area median income (AMI). While our units have no minimum income requirement, residents who qualify do need to be able to afford the rent amounts sustainably (i.e. paying no more than 30-40% of their income on rent and utilities). You can calculate what rent you can afford with this helpful tool.
We recognize that our rents are not affordable to those making below 30% of the area median income, and encourage folks unable to afford our units to apply for support through the Vermont State Housing Authority and/or Bennington Housing Authority. We accept housing choice vouchers (Section 8).
*Please note, income restrictions are set annually by the U.S. Department of Housing & Urban Development (HUD) based on countywide calculations. Income guidelines are published in April of each year.
50% Units
These are designated for households making below 50% of the area’s median income.
In 2023, the following are the maximum gross income limits for this type of unit:
- 1 Person Household – $34,700
- 2 Person Household – $39,650
- 3-Person Household – $44,600
- 4-Person Household – $49,550
- 5-Person Household – $53,550
- 6-Person Household – $57,500
Please note: we do not have a set minimum income requirement, however, because our rents are not subsidized, eligible applicants need to be able to sustainably afford housing costs. We won’t place an applicant if rent and utilities would be more than 30-40% of their monthly income, unless they have a section 8 voucher.
60% Units
A majority of our units are designated for households making below 60% of the area’s median income.
In 2023, the following are the maximum gross income limits for this type of unit:
- 1-Person Household – $41,640
- 2-Person Household – $47,580
- 3-Person Household – $53,520
- 4-Person Household – $59,460
- 5-Person Household – $64,260
- 6-Person Household – $69,000
Please note: we do not have a set minimum income requirement, however, because our rents are not subsidized, eligible applicants need to be able to sustainably afford housing costs. We won’t place an applicant if rent and utilities would be more than 30-40% of their monthly income, unless they have a section 8 voucher.
80% Units
These units are designated for families making below 80% of the area’s median income.
In 2023, the following are the maximum gross income limits for this type of unit:
- 1-Person Household – $50,800
- 2-Person Household – $58,050
- 3-Person Household – $65,300
- 4-Person Household – $72,550
- 5-Person Household – $78,400
- 6-Person Household – $84,200
Please note: we do not have a set minimum income requirement, however, because our rents are not subsidized, eligible applicants need to be able to sustainably afford housing costs. We won’t place an applicant if rent and utilities would be more than 30-40% of their monthly income, unless they have a section 8 voucher.
Market Rate Units
We have a limited number of units that are not income-restricted and which have rents that are considered “market-rate.” We also have a select number of units available to households making below 120% of the area median income thanks to funding from the State’s Housing for Everyone Revenue Bond.
Please note: we do not have a set minimum income requirement, however, because our rents are not subsidized, eligible applicants need to be able to sustainably afford housing costs. We won’t place an applicant if rent and utilities would be more than 30-40% of their monthly income, unless they have a section 8 voucher.