Living and kitchen space in unit at Paseo apartments, located in downtown Austin, Texas.

Affordable Housing Program

Affordable Living at Paseo

Alongside our market-rate apartments, Paseo offers a selection of studios, one- and two-bedroom residences at affordable rental rates through Austin’s SMART Housing program.

What is SMART Housing?

SMART Housing is the City of Austin’s affordable housing program. Rent limits are tied to Median Family Income (MFI), making it possible for qualified households to live in downtown Austin at a reduced rate. At Paseo, income-based rentals will be available to households earning 80% MFI or less.

Income Guidelines (80% MFI):

Applicants' gross annual income may not exceed the following limits:

1-person household: under $72,950
2-person household: under $83,400

Required Materials

What you’ll need to apply:

Completed application for every household member 18+
Six months of consecutive bank statements (all pages included, one-sided)
Most recent, consecutive pay stubs (6 bi-weekly, 4 semi-monthly, or 2 monthly)
6 most recent checking bank statements (if applicable)
Most recent savings statement (if applicable)
Child Support Verification Form (if applicable)
Additional documents may be required depending on each individual's income and assets

One-bedroom kitchen at Paseo in downtown Austin with quartz countertops, modern appliances and downtown Austin views, shown in this comparison with The Bowie Austin.

Ready to Learn More?

Connect with our leasing team to ask questions, confirm availability or start your affordable housing application at Paseo.

FAQs

Yes. Select studios, one-bedrooms and two-bedrooms are available through Austin’s SMART Housing program.

MFI stands for Median Family Income. To qualify at 80%, your household’s gross annual income must be under $72,950 for one person or $83,400 for two people.

No. All Paseo residents enjoy the same thoughtfully designed residences, amenities, and community spaces.

If your income falls below the limits listed above, you may be eligible. Our leasing team can walk you through the details.

Start by contacting our leasing team. They’ll confirm current availability, review qualification requirements with you, and guide you through the application step by step.

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