A Subsidized Housing Community
Income Based Housing
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Rent

Rent at Bangor Downs is based on 30% of your gross income. For some, there are many factors to figure into calculating rent. The following is a simple version of this process. This example is based on an applicant making minimum wage, and working an average of 30 hours a week.

 $        9.45    (hourly pay)
   x         30    (average weekly hours)
$      283.50    (average weekly pay)
   x         52    (weeks in the year)
$ 14,742.00    (average yearly income)
   -   960.00    ($480 is deducted for each child on the application. This example is for 2) 
$ 13,782.00
   x     .30%    (30% of your gross income)
$   4,134.60
  ÷         12    (months of the year)
$     344.55    (rounded off – $345.00 would be the security deposit)
$ -   129.00    (the utility allowance that is subtracted for a 3 bedroom unit – see below*)
$     215.55    (rounded off - rent would be $216.00 a month )


*A utility allowance is the average amount of the utility bills for that size unit. That amount is deducted from what the rent ‘could’ be. They are the following:
  1 Br - $90,  2 Br - $104,
3 Br - $129, 4 Br - $148



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