If you or your family are surviving on a low or fixed incomeFixed Income is periodic payments at reasonably predictable levels from one or more of the following sources:
• Social Security, Supplemental Security Income, Supplemental Disability Insurance... More, no one has to tell you how challenging it can be to find affordable housing. When housing costs go up and your income doesn’t go up to match — as is happening to millions of families around the country — coming up with rent each month or finding rental assistance can be stressful at best, and impossible at worst. The good news is that through a number of housing assistance programs, there are comfortable rental housing options available for low-income families. But how do you find these properties, and how can you qualify to live in them? Let’s discuss some basics for how to find low-income housing programs in your area.
What Counts as Low-Income Housing?
The first thing to understand is income limits. To qualify for low-income housing, your combined 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 must be at or below a certain threshold. Since the cost of living is different in every community, the maximum actual dollar amount you can earn each month will be different depending on where you live (or where you seek to rent).
The Department of Housing and Urban DevelopmentEstablished 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 (HUDEstablished 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) determines this amount based on a percentage of the Area Median Income (AMI) for that area. For expensive areas like San Francisco or New York City, the AMI will be quite high; for more affordable areas like 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 MississippiThe birthplace of root beer, Elvis Presley, and the blues, Mississippi is coveted for its mild climate, sandy Gulf beaches, Southern hospitality, and rich soil. Indeed, the state's economy has been ro... More, the AMI will be lower. Thus, it’s possible to be considered a low-income family in the Bay Area, but a middle-income family in Macon, GeorgiaOver the past few decades, the State of Georgia has gone from being primarily an agricultural region to being an international crossroads and one of the most influential regions of the Southeast. Now ... More, for example.
To qualify you for low-income housing, HUDEstablished 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 will look at your total 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 compared to the AMI for your area. Low-income households generally fall into three categories:
- Households making 80 percent or less than the AMI are considered low income;
- Households making 50 percent or less than the AMI are very low income; and
- Households making 30 percent or less than the AMI are extremely low income.
Understandably, depending on how much housing is available in a certain area, the local housing authority will give priority to individuals and households with extremely low incomes first.
Types of Low-Income Housing
Depending on your income qualifications and eligibility requirements, you may be eligible for any of the following types of low-income housing in your area:
- Public Housing (Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More): Apartment communities that are directly owned and run by HUDEstablished 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 and/or the local housing authorities. These units are typically reserved for extremely low incomes, and rent is capped at 30 percent of the 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.
- Income-based Housing: Privately owned apartment communities that apportion at least 20 percent of their units for low-income renters. You can usually qualify for these units at 50 percent or less than the AMI.
- Income-restricted Housing: Privately-owned apartment housing units or planned developments specifically created for low-income individuals or families. Qualifying for this housing usually requires incomes of 60 percent or less than AMI, but some areas may extend the threshold as high as 80 percent.
- Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More Housing Vouchers: If not enough public or low-income housing is available in your area, you may qualify for a Section 8Housing Voucher. This is a guaranteed subsidyMoney paid by a government agency to assist a household or property. Depending on the context, this can be in the form of rental assistance or financing assistance to a property. More from the government that moves with you to make up the difference in rent for a rental of your choosing, provided that rental meets Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More requirements.
Where to Find Low-Income Housing Options in Your Area
Finding low-income housing can be done in one of two ways. Perhaps the easiest method is to apply at your local Public Housing Agency (PHAPublic housing authority. A local Agency that may manage public housing and Housing Choice Vouchers. More). Doing so will determine your eligibility and identify possible housing options in the same step. Another method is to search online for “income-based” or “income-restricted” housing in your area, then reach out to the management company to inquire about how to qualify.
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. specializes in providing clean, 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 low-income tenants across the Southeast. To learn more about our affordable rental property options, call us at 256-894-2382.