AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More enjoys some of the lowest housing prices and rental rates in the nation. The median rental rates in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More are significantly lower than the national average, but that doesn’t automatically make them affordable. Here in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More, as in the rest of the country, rental rates frequently rise more quickly than incomes do, making it just as challenging for individuals and families to find 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 here as in other states. That being said, it is possible to find inexpensive housing in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More — or more to the point, housing you can afford — by making a plan and being strategic in your efforts. The following guide can help.
Determine What Is Affordable for Your Household
What defines “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” for most households? The federal government considers housing affordable when the total cost of rent is at or below thirty percent of the household’s gross monthly income. That amount, according to most financial experts, is the most you should pay in order to meet your other monthly expenses comfortably. Let this be your starting point. Add up all sources of income within your householdAll the people who occupy a housing unit. A household includes the related family members and all the unrelated people, if any, such as lodgers, foster children, wards, or employees who share the hous... More, then calculate 30 percent of that amount. If your household’s monthly income is $3000 per month, your rent should be no more than $900 per month. If it’s only $1500 per month, you can afford a monthly rent of $450.
Look for Rentals within Your Price Range
Once you know your price range, try searching at local agencies or on the Internet for rentals in that range or below. If your affordable threshold is low, you may face some challenges in finding the right space. If you do find a place you can afford, you may have to sacrifice space, 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 or an optimal location. Resist the temptation to rent beyond your means as this is can lead to even more hardship.
Try Qualifying for Affordable Housing
If your income is less than 60 percent of the average median income (AMI) in your area, you may be able to qualify for a number of government programs designed to keep rent in the affordable range. If you qualify, these programs will subsidize the excess rent so your costs don’t exceed 30 percent of your income. This may allow you to live in a more comfortable space without jeopardizing your budget. Programs may include public housing, Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More vouchers, income-restricted or income-based apartments, etc.
To apply for 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, take the following steps:
- Gather documentation that proves your householdAll the people who occupy a housing unit. A household includes the related family members and all the unrelated people, if any, such as lodgers, foster children, wards, or employees who share the hous... More income. Examples include prior year tax returns, pay stubs from your employer, etc.
- Apply for assistance at your local housing authority. The AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More Association of Housing and Redevelopment Authorities (AAHRA) maintains a city directory of housing offices. The housing office will help you determine which programs you may be eligible for as well as provide a list 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 complexes in your area.
- Check qualifying properties in your area to find your new home. When filling out rental applications at these properties, make sure to bring your proof of eligibility.
Finding inexpensive housing in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More can be a challenge, but by making a plan and taking advantage of available assistance, you can find a comfortable home you can actually afford. To learn about available affordable AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More properties in your area, call Olympia Property Management at 256-894-2382.