What unit types are reported at 402 w wilson street?

This record reports: 1 Bed • 2 Bed. Availability can change rapidly, so ask management which layouts are currently open and whether any accessible units are available.

What are the income limits to qualify at 402 w wilson street?

402 w wilson street is a Low Income Housing Tax Credit (LIHTC) property. HFA records indicate the income ceiling is set at 60% AMGI. This means your household income must be at or below that percentage of the Area Median Income (AMI) for madison — roughly $69,656/yr for a 4-person household in the 53703 zip code (based on 2024 data). Management will verify your exact income during the application process.

How long will 402 w wilson street remain affordable housing?

This property has an extended affordability commitment beyond the standard LIHTC 30-year minimum — the record shows 29 years of affordability, keeping rents income-restricted until approximately 2053. This is a legally binding commitment, providing greater long-term housing stability for residents.

402 W WILSON STREET — Income-Restricted Apartments in Madison, Wisconsin

How rent works

What this means for you

This property includes LIHTC tax credit · 60% AMGI AMI. Rent rules can change by unit, so ask the office which program applies to the apartment you want.

LIHTC: These are income-based apartments with rent limits tied to the local Area Median Income (AMI) — not market-rate rent. The local 4-person AMI for the 53703 zip code is $116,094 (2024 data). Rent limits are set from that number. If this property also has rental assistance, some tenants may pay about 30% of adjusted income.

How income limits work

To qualify for these apartments at 402 W WILSON STREET, your total household income must fit the local Area Median Income (AMI) limits for Madison and the 53703 zip code. The exact rules can vary by program and by household size.

This property includes LIHTC tax credit · 60% AMGI AMI. Check the program labels on this page and confirm the exact unit rules with management before you apply.

Local Median (1-Person)

$81,265

Local Median (4-Person)

$116,094

Based on the latest 2024 census data, the figures above show the local median earnings for this area. Management will generally require your household income to be at or below 50% of these median figures.

Who can live here

Income ceiling: 60% AMGI Income-qualified only

Rent-Restricted Units

54 of 54 total

income-restricted tax credit apartments

Rent-Restricted Until

~2053

Extended commitment: 29-year affordability period

Income Limit

60% AMGI

Your household income must be at or below this % of Area Median Income — roughly $69,656/yr for a 4-person household in 53703 (2024 data)

402 w wilson street is a Low Income Housing Tax Credit (LIHTC) apartment community in Madison, Wisconsin. LIHTC properties — also called Section 42 housing or tax credit apartments — are income-restricted rentals developed with federal tax credits administered by state Housing Finance Agencies (HFAs). Qualifying residents pay rent based on a percentage of the Area Median Income (AMI) for Madison. Based on 2024 data, the local AMI for the 53703 zip code is $81,265 for a single person and $116,094 for a 4-person household. These figures make Madison tax credit apartments among the most affordable rentals available without a Section 8 voucher.

To qualify, your total household income must fall at or below the income limit set for this property — currently 60% AMGI of AMI. That works out to approximately $69,656/yr for a 4-person household in the 53703 area. Unlike public housing, LIHTC income-restricted apartments are privately managed and require you to apply directly to the property. Rent is fixed at a discounted rate tied to AMI — not to your specific income — so your monthly payment stays predictable.

By law, LIHTC properties must remain rent-restricted for a minimum of 30 years. 402 w wilson street was placed in service around 2024, keeping rents income-restricted at least through ~2053. This property has an extended 29-year affordability commitment — providing long-term housing stability well beyond the minimum.

Before You Apply

Confirm the age rule and income limit

You must be of qualifying age. Your income must fall within HUD's Area Median Income (AMI) limits for Madison. Based on the 53703 zip code AMI (2024), this property's 50% income limit is approximately $40,633/yr for 1 person / $58,047/yr for a 4-person household.

Ask which unit types are actually available

This listing shows historically available units. Ask directly if a unit is open today.

Verify accessibility before paying any fees

If you use a wheelchair or walker, confirm elevator access and doorway widths before submitting a paid application.

Questions People Ask

What are the local income limits around 402 w wilson street?Open

Income limits are calculated against the Area Median Income (AMI) for the 53703 zip code. Based on recent Census data, the local median income is $81,265 for a single person, and $116,094 for a four-person household. Your specific income cap depends on the exact subsidy program rules applied by management.

To view how these median figures translate to specific income caps (e.g., 30%, 50%, or 60% AMI limits) for all household sizes, check out the AMI Calculator .

!Check Your Qualification Instantly

Our eligibility tool automatically cross-references your household size and gross income with the local AMI database for this property to determine your fit.