AMI stands for Adjusted Median Income which is the mid-point of all incomes for a particular county. For Alameda County it is $130,500.00 annually for a family of four and it changes every year. To establish levels of affordable housing, the developers use percentages of the AMI for a particular county. The most common percentages are: extremely low income 30%, very low income 50% and low income 80% although there can be more percentages used for a building. This type of affordable housing is called Below Market Rate or Tax Credit units. One building usually has several different AMI categories. Each unit has a unique rent depending on the AMI. The rent that is established for each AMI will be affordable for that income group. To find out if you qualify for a particular AMI unit see the table below and check with the manager of the building. For example, a family of four with an annual income of less than $39,150.00 qualifies for a 30% AMI unit.
AMI income limits are established each year by the State Treasurer’s office and California Tax Credit Allocation Committee (CTCAC) http://www.treasurer.ca.gov/ctcac/2020/supplemental.asp where you can find the income limits for the year.