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Phone Number +1 612-255-0287
Property Logo at The Rosalyn | Affordable 55+ Apartments in Bloomington, Bloominton, MN 55420
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Income Limits

Our community is designed for adults age 55 and better and welcomes residents who meet the federal Housing for Older Persons Act (HOPA) requirements.Rents are affordable at The Rosalyn thanks to the City of Bloomington, Hennepin County, and federal financing for this type of apartment building.

We agree to keep the rents affordable for a long time and we agree only to rent to those households for whom this housing is targeted.

Income levels are published once each year by the federal Department of Housing and Urban Development (HUD).

Maximum Income Limits Per Household Size

50% AMI Homes

  • 1 Occupant: $46,350
  • 2 Occupants: $53,000
  • 3 Occupants: $59,600
  • 4 Occupants: $66,200
  • 5 Occupants: $71,500
  • 6 Occupants: $76,800

60% AMI Homes

  • 1 Occupant: $55,620
  • 2 Occupants: $63,600
  • 3 Occupants: $71,520
  • 4 Occupants: $79,440
  • 5 Occupants: $85,800
  • 6 Occupants: $92,160
  • 7 Occupants: $98,520

Occupancy Standards (Maximums)

  • 1 Bedroom: 3 Occupants
  • 2 Bedroom: 5 Occupants
  • 3 Bedroom: 7 Occupants

Rent is not based on the household's income. The rent amount stays the same every month for the full term of your one-year lease.

The property has a minimum household income requirement of 1.5 times the monthly rent amount to qualify. For example, if the monthly rent on the apartment you are applying for is $1,187, the minimum monthly household income (before taxes) needs to be $1,780.50/month or $21,366.00/year to qualify.


Calculating Income

Here are a few of the steps in determining income eligibility. This is not meant to be a complete list. Contact our leasing staff for more details.

  • Tenants need to qualify based on household income adjusted for their household size at the time of their initial lease. Income is defined as the gross amount of income anticipated to be received by all members of the household, with some exceptions, during the twelve (12) month period following the certification.
  • Income calculations may include assets or other non-employment income.
  • The leasing staff will verify all sources of income when you apply and will re-certify your income every year while you live here.

Defining Income

Income includes, but is not limited to:

  • Employment income
  • Self-employment income
  • Social Security, pensions, SSI, or disability income, AFDC
  • Unemployment compensation
  • Alimony or child support payments
  • Recurring contributions and gifts
  • Income from assets - interest, stocks, bonds, real estate, etc.

Is it complicated to apply?

  • You will be asked to complete forms that request information regarding household income, family composition, student status and financial assets. This information will aid the office team in determining your eligibility. The office team will be happy to assist you with the application process.

What else is different about living here?

  • After you move in, the staff will need to re-certify your household's income and verify your household's student status once a year.

There are more inspections than in most buildings. The public agencies and the private investors who provided the financing that allow the rents to be affordable want to make sure that we're being good stewards of those resources. They come to review our records each year, to look at the building, and to inspect some percentage of the apartments.