Estimated Monthly Income

The amount of money earned through employment, Social Security, pensions, etc. All sources of monthly income         should be totaled and entered into the yellow space provided.

Asset Value

Assets are properties or securities held as investments. This may include, property, real estate, bank accounts, IRA's, Certificate of Deposits, or other financial holdings.  Income is determined from assets that are larger than $5,000 or that are earning greater than 2% annual interest. Please enter in the largest asset owned in the space provided. Because of the wide variety of assets and the values they hold, This Asset Value calculator is only a ESTIMATE and is in no way completely accurate. For more information on how your assets determines your rent, see HUD's Fact Sheet or feel free to contact Friendship Manor at 801-582-3100.

Interest Earned on Assets %

Please enter the amount of interest earned on the asset listed in the previous box. If no interest is earned, enter zero.

Imputed/Actual Asset Income

Imputed asset income is income that is calculated by taking 2% (HUD regulations, see HUD's Fact Sheet) of the asset value annually. This is only calculated if you asset value is greater than $5,000 AND your interest earned is lower than 2%.

Actual asset income is calculated if you have more than $5,000 in assets AND your interest earned on those assets is greater than 2% annually.

Total Annual Income

This is a combination of annual earned and unearned income, and income from assets.

Monthly Medical Expenses

All expenses pertaining to pharmacy, hospital, doctor, dental, etc. Incurred or paid for on a monthly basis.  These regular payments become deductions, and effectively lower the amount you have to pay for rent.

Allowable Medical Expenses

HUD regulations state that if medical expenses are only considered deductions if the total medical expense is less than 3% of the annual income. If medical expenses are higher than 3% of annual income, only the amount equal to 3% of the annual income is deducted.

Elderly/Disabled Family Allowances

This is a standard HUD deduction for Elderly, Disabled, and multi-family housing sponsored by HUD.

Adjusted Annual Income

The estimated annual income minus all allowances.

Estimated Monthly Subsidized Rent

This is an estimate of the amount of rent you would be expected to pay, living at Friendship Manor.  This is ONLY AN ESTIMATE and is NOT deemed accurate.  All financial and monetary data must be verified by third party