Section 515 Rural Rental Housing Loans are direct, competitive mortgage loans made by the U.S. Department of Agriculture (USDA) to provide affordable multi-family rental housing for very low, low-and moderate income families, elderly individuals and individuals with disabilities. Moderate-income tenants in Section 515 have an income cap of $5,500 above the low-income limit (between 50% AMI and 80% AMI). Persons with very low and low incomes, the elderly, and persons with disabilities are eligible for rental assistance if they are unable to pay the basic monthly rent within 30% of their monthly income.

Visit our Residents page to find a Rural Development 515 property near you.