Income Verified (IV) Reserved Spaces
Discounted rates, reduced parking pass fees, and reserved co-op rooms for students making less than 50% of Austin's Median Family Income or receiving need-based financial aid.
What Are Income Verified (IV) Spaces?
Spaces available as “Income Verified” (IV) reserved are for members who make less than 50% of the median family income (MFI) of Austin. If you receive need-based financial aid from your university or college, you automatically qualify for these reserved spaces!
As an IV member, you qualify for:
IV Reserved spaces are not different from other rooms. These rooms remain reserved throughout the year for qualified residents. IV spaces cannot be leased to residents who do not qualify.
These reserved spaces can be any room at 21st Street, Halstead, or Nueces.
IV Reserved rooms are not available at Pearl Street, Taos, or Opsis.
Note: If members qualify as IV but want to live in a house that does not have reserved spots, College Houses still offers a 3% reduction for members who pay a semester's rent in full, and a reduced parking pass fee.
How to Apply for an IV Reserved Space
If you need affordable student housing in Austin and you think you might qualify for an Income Verified reserved space, please submit a free application online!
To receive an Income Verified Lease, select “Yes” when the online application asks:
Qualifying Documents to Verify Your Income
Most students are able to verify their income by submitting their need-based financial aid award letter, which automatically qualifies potential and current members for IV reserved spaces.
If you do not receive need-based financial aid, you can also submit two months worth of paystubs to qualify! If you don't have financial aid or paystubs, but make less than 50% of Austin’s MFI (which is currently anyone making less than $46,850/yr), please reach out to our Membership Process Coordinator, Sophia F., to find other ways to verify your eligibility.
Other Help for Income Verified Members
The co-op is only allowed to offer Income Verified rooms at reduced rates for some of our houses (21st St, Halstead, and Nueces). But we are able to offer benefits to an income-qualifying member no matter which house they live in, including members living in Taos, Pearl St, or Opsis. Those include:
- 3% Discount on Rents if Paid by the SemesterPay your semester in advance and receive a full 3% reduction on total room rent.
- Discount on Annual Parking Passes ($375 per year)Significantly discounted reserved parking rates across College Houses properties.
University Neighborhood Overlay (UNO) Density Bonus Program
The City of Austin’s University Neighborhood Overlay (UNO) Density Bonus Program (opens PDF in a new tab) is a zoning initiative aimed at increasing housing capacity and affordability in the West Campus area near the University of Texas.
The UNO program allows developers to build taller, denser buildings in exchange for providing affordable housing units or paying fees to fund affordable housing projects. It focuses on fostering walkable, high-density urban development while addressing student housing needs.
Developers in this program must meet specific design, environmental, and community benefit standards to qualify for the program. Affordable units created through the program are reserved for households earning a percentage of the Area Median Income (AMI), typically targeting students and low-to-moderate-income renters. This initiative contributes to Austin’s broader goals of sustainable urban growth and inclusivity.
Have Questions About Your Qualifications?
We're here to help you navigate financial aid, MFI thresholds, and room options.