For many people, “affordable housing” is a loaded term that evokes stereotypical images of undesirable living situations in unsafe neighborhoods. The reality is often quite different. Affordable housing has less to do with where or how the homes are built, and more to do with the various subsidies used to make them affordable to lower-income families. If you’re curious about investing in affordable housing, let’s dispel five affordable housing myths.

1. All affordable housing is Section 8/public housing.

Section 8 isn’t a type of housing; it’s a program that helps subsidize housing costs for low-income individuals and families. Public housing is typically Section 8, but many privately-owned properties also qualify for Section 8 — including some that might surprise you. In addition, Section 8 is only one type of program that helps make housing affordable. There are many other types of developments that rely on income tax credits and other incentives to create affordable housing for people who meet their income qualifications.

2. Affordable housing is sub-par and poorly maintained.

Affordable housing developments must follow the same building codes as housing for sale or rent at market value. In fact, the government often imposes additional standards and restrictions on housing developments seeking to qualify for subsidies. As for maintenance, that factor depends on the landlord or the management company and has nothing to do with the cost of rent. Find a good management company, and you’ll find affordable housing that is clean, energy efficient and safe.

3. Affordable housing exists only in “poor” parts of town.

Affordable housing developments can exist anywhere, and usually do. The properties we manage are often located in or near the busiest commercial areas in town.

4. Affordable housing increases crime.

Many people associate affordable housing with unsafe neighborhoods and high crime, assuming that these complexes actually create favorable conditions for crime. The reality is that there is no correlation between the cost of housing and the crime rate in any community. In fact, affordable housing actually reduces transiency and helps make families more stable, potentially reducing crime.

5. Affordable housing causes lower school performance.

Some families are concerned that living in affordable housing will force them to place their kids into underperforming schools. The reality is that lowered school performance is caused by un-affordable housing. When families have to keep changing school districts to flee higher rents, their children don’t get the chance to settle and they perform worse on standardized tests. Affordable housing actually helps solve this problem and improves school performance.

Olympia Management specializes in affordable housing solutions for individuals and families across the Southeast. To learn more about our properties and availability, give us a call at 256-894-2382.