When individuals think of affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More, they think of older homes with dated fixtures, extensive structural issues, and dangerous neighborhoods. Once upon a time, that is what affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More was, but today, “affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More” is no longer synonymous with “cheap housing.” Today, affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More is housing that individuals and families can afford on a minimal budget, but that is relatively safe, that has easy access to good jobs and amenitiesAre desirable or useful features on/in a property or unit. Please Note: All the Amenities that are featured at a property is listed at the bottom of the individual property’s page under the “Ameni... More, and most importantly, that is new.
Cost Benefits Of New Affordable HousingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More
According to the Department of Labor, the national minimum wage is set at $7.25 per hour. The national average rent for a one-bedroom apartment is $1,050 per month. If the average individual were to work forty hours a week at $7.25 an hour in a four-week month, their gross income would be $1,160. Assuming that the individual pays rent by himself or herself, they would be left with $110 for clothing, food, bills, and other necessities for the entire month.
$110 a month is not nearly enough to live off of.
Fortunately, states are taking proactive measures to combat the inequity between minimum wage incomes and average rent prices, by enacting affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More initiatives in their most populated and underprivileged areas.
New affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More complexes give residences all the conveniences of typical rental housing, but at a much more affordable cost. The rent on affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More is calculated based off of your earnings. According to the Department of Housing and Urban Development, your rent will be the higher of the following:
- 30% of your family’s monthly adjusted incomeAdjusted income is used to determine a household’s rent and the amount of rental subsidy the household will receive. Programs that include Adjusted Income:
• HOME requires the determination o... More; - 10% of your family’s monthly income;
- Welfare rent; or
- Minimum rent of $0-$50.
Additional Benefits Of New Affordable HousingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More
While numerous studies highlight the economic value of new affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More complexes, one of the most compelling studies that demonstrate the direct benefits on lower-class individuals is the “Climbing Mount Laurel” projectAll of the buildings included in a group at a housing development for compliance purposes, as indicated on each building’s form 8609 line 8b. The default is that each building is a separate project ... More. Located in the upper-class suburbs of New Jersey, Ethel R. Lawrence Homes residents saw the following benefits:
- A significant drop in traumatic experiences;
- A marked improvement in mental and physical health;
- Improved education outcomes for youth; and
- Reduced exposure to environmental hazards.
Additionally, new affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More complexes are located near the following:
- Transit systems, making commuting a possibility without the added burden of a car payment;
- Good schools;
- Medical care services; and
Olympia ManagementOlympia Management, Inc. exists to meet the needs of the affordable housing community by providing top-quality living conditions, excellent management, compassionate interaction with tenants, and cons... More, Inc. Offers New Affordable HousingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More Options
If you are looking for a newly developed apartment complex or housing unit in a safe neighborhood, but you are on a restricted budget, contact the team at Olympia Management, Inc.. Olympia ManagementOlympia Management, Inc. exists to meet the needs of the affordable housing community by providing top-quality living conditions, excellent management, compassionate interaction with tenants, and cons... More, Inc. manages new construction income-restricted apartments throughout the Southeast, each of which comes with all of the benefits mentioned above. Contact us today to learn more about our new construction affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More options, and to see if they fulfill your needs.