Why is Diamond Creek is more affordable?
Diamond Creek is a privately owned and operated community of affordable apartment homes that offers below market rate rents. The type of financing used at Diamond Creek is provided for in Section 42 of the internal revenue code. This type of tax credit financing gives private developers the ability to create very high-quality housing that has more affordable rents than comparable communities. This same financing program, however, requires us to rent our apartment homes only to applicants who meet specific income guidelines.

How much can I make and still qualify to live at Diamond Creek?
The maximum allowable income is based on the number of people who will be living in your Diamond Creek apartment home (household size). The income is counted for everyone in your household, including income earned on bank accounts, and possible imputed interest on assets such as real estate, etc. The chart at the top right of this page shows the current maximum income limits with the corresponding number of people in the household. Each year these income limits are determined by the Department of Housing and Urban Development and are based on the median income for Washoe County. 

How do I know if I qualify to live at Diamond Creek?
Just stop by or give us a call. We will be happy to answer any questions you have and explain the qualification process in more detail. When you decide to make Diamond Creek your home our friendly staff will help you fill out our forms and immediately begin processing your application. It normally takes 1 to 2 weeks for us to formally complete the approval process.*

*All information provided by applicants is verified before approval and occupancy.

Maximum Household Gross Income Guidelines

*Income limits subject to change.

Do I have to move out of Diamond Creek if my household income goes up beyond the income limits?
No. Once you become a resident of Diamond Creek, you will not be required to move based on the fact that your household income goes up beyond the income limits.** 

**Assuming the original application was valid and the increase to household income or household size was not reasonably anticipated at the time of the original application.