With rental rates on the rise across the nation and wages not increasing to match, more and more individuals and families are struggling to find affordable housing. The good news is that a number of federal and state programs are in place to help low-income households afford housing costs. These include subsidies paid to qualifying properties, public housing and Section 8 vouchers. If your income is 50 percent or less than the area median income (AMI) in your area — and in some places as much as 80 percent of the AMI — you may qualify for affordable housing. If you believe you may qualify, let’s look at the steps to take to apply for assistance.

Get Your Proof of Income in Order

Qualifying for affordable housing is primarily about proving how much money you make in comparison to the median income for your area. In general terms, you are considered low income if you earn less than 80 percent of the AMI, very low income at less than 50 percent, and extremely low income at less than 30 percent. These numbers are based on percentages rather than actual dollar amounts because the median income can be vastly different in different parts of the country. For instance, a family of four in San Francisco (the most expensive part of the country) can make as much as $117,400 per year and still be technically considered low income. Conversely, in Huntsville, Alabama, that same family of four qualifies as low income only if they make less than $62,950.

You may or may not know the median income for your area and how your income compares, although a simple Google search may tell you. However, when you apply for affordable housing, your proof of income is the first thing they will ask for — so get this step done in advance to save time. Assemble any tax returns from the past couple of years, bank account information and pay stubs from the past several months (including welfare checks, unemployment and/or disability). Repeat this step for every person in your household who generates an income. Keep this information handy when you apply.

Apply at Your Local Housing Authority

While housing subsidies are backed by the federal Department of Housing and Urban Development (HUD), they are administered by local housing authorities. These agencies keep a record of available housing options in your area and are responsible to help families find the housing solution that is right for them, so far as the funds allow. Once you have your income and financial information together, it’s time to apply for assistance at your local housing authority. If you don’t know where to apply in your area, the HUD website has a local resource locator feature that can help you. Your local housing authority can help evaluate your income and let you know what subsidies you qualify to receive, if any. Housing assistance options may include income restricted housing (reserved for 50 percent AMI or less), income-based housing (60 percent AMI or less), Section 8 vouchers, public housing, etc.  Hint: Don’t be surprised if you end up on a waitlist even if you qualify. Some regions have many families who need affordable housing, yet have limited resources. Be patient with the process.

Look at Qualifying Low-Income Housing Options

Once you’ve qualified for affordable housing and know what benefits you’re qualified to receive, take a look at affordable housing complexes in your area and begin looking for a place to live. Your local housing authority can provide you with a list of options, or you can find specific management companies or properties designated for low-income families. We recommend going on-site and touring the facility and the apartments/houses before making a decision.

Olympia Property Management specializes in providing comfortable, affordable housing for qualifying low-income individuals and households. To see what we have available in your area, call us today at 256-894-2382.