Rental market rates are on the rise in major cities all over the country; not just in San Francisco, New York City, Washington, D.C., or Los Angeles, but cities and towns 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 well. While 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 offers a lower cost of living than most other parts of the nation, that doesn’t mean it’s always easy to find affordable housing here. From senior citizens to millennials, decreasing housing affordability makes it more and more difficult for low-income individuals and families to meet their rent and pay their utility bills every month. That said, it is still possible to find affordable rentals 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 — provided you know where to look and know whether you’re eligible 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. The following tips should help narrow your search and avoid apartment listings with sky-high rents.
Determine What’s an Affordable Rental to You
Before starting your search, begin by taking a look at your own income and budget. Look at all your income streams, including those from other people in 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, and add them up to find out your monthly 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. Calculate 30 percent of that monthly income, and you’ll know how much rent you can reasonably afford without straining financially. (If you currently rent somewhere, and your rent exceeds this amount, you’re paying too much, and you’re considered “rent-burdened.”) Once you know the dollar amount you can afford in rent, you’ll be able to save time by ruling out places you can’t really afford.
How Renters Can Find Affordable Rentals
These days, the Internet is a powerful tool for searching for available rentals in your area. Sites like zillow.com, rent.com, and apartments.com let you scope out rental listings anywhere in America. Simply narrow your search criteria by your city and price range to get a listing of places in your price range. You can also filter your search by other features like number of bedrooms, type of housing, etc. You can make a note of any properties you’re interested in, and email or call directly from the site.
There are some drawbacks to this do-it-yourself approach, however. Depending on what’s affordable to you, you may find your options limited, and the few options that are available, they may be in bad shape or in a part of town you deem unsafe. For some families, this approach doesn’t turn up any acceptable results.
An Alternative: Qualify for Affordable Housing
Another approach to finding affordable rentals 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 is to reach out to your local U.S. Department of Housing and Urban Development (HUD)Established in 1965, HUD's mission is to increase homeownership, support community development, and increase access to affordable housing free from discrimination. To fulfill this mission, HUD will em... More office and determine whether your household’s monthly income qualifies you 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. There are a surprising number of properties out there that accept government subsidies to make up the difference between the market rent and what you can afford to pay. These properties aren’t always found on the search engines, and they are often clean and well-managed. To be eligible, you’ll need to prove that your monthly 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 falls somewhere below the Area Median Income (AMI) for your area. The percentages and thresholds differ from place to place, but you can often 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 options if your income is at or below 50-80 percent of AMI.
If you are aware of local apartment communities in your area that are income-restricted or income-based, you can also reach out to the management directly to discuss how to qualify to live there. 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. prides itself on managing many clean, safe, affordable apartments 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 and throughout the Southeast. Contact us at 256-894-2382 to learn about available properties in your area.