The San Antonio-New Braunfels AMI has increased every year since 2016. In 2019, it jumped 6.3%, the biggest jump before this year’s 13% rise.
But AMI-based rent limits are a ceiling, not a floor; HUD does not require property managers to raise or charge rents to the maximum allowed under the calculation.
Some tenants will be protected by existing lease agreements, she said, and in general, landlords “don’t want a bunch of vacancy rates right away.” As much as $120 million of the recently passed $150 million housing bond is earmarked for housing and rental rehabilitation, acquisition and preservation for those earning 30% to 50% of AMI. The housing plan calls for another $150 million affordable housing bond in five years.
The additional families and individuals who will now qualify for housing assistance under the higher AMI will create even greater demand for affordable housing, said Scott Ackerson, Prospera’s executive vice president of strategic relationships.
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