I know there have been a ton of questions regarding these, but I hoping I can get one more answered. I have a loan to construct apartments next to our local community college. These apartments consist of four bedrooms, a kitchen area, laundry area and living room. The renters would rent essentially by the bedroom, for example, each student would pay $200 and get their own bedroom and access to the other areas as would the other renters. Since the $200 would be below my HUD Fair Market Rent Value, would this count as housing to LMI individuals or do I need to figure the total 4 bedroom apt rent is $800, which is over my market rent value? Any guidance would be appreciated! Thanks!

Seperate rooms for seperate students at affordable levels Look at the $200, but explain the owners target market (students) and look to their average income (which will be squat). You'll be fine Sounds like an easy deal

Thanks Dawnie! How would I go about finding out their average income?

Call the school Community Relations office and ask about the percentage on student aide of any type. This will include loans/pell grants, etc. Let them know you're looking at the percentage who are under 80% area median. They'll have the number to you rather quickly