An affordable home is becoming harder and harder to find as housing costs increase across the country. The price for houses and rent for apartments are going up at a rate faster than most people’s income. Finding an apartment when you have a little income is difficult, especially if you do not have good credit.
Most landlords ask for the first and last month’s rent before you can move into the unit. However, low income apartments work with tenants if you know where to look. Learn more about these affordable apartments below.
Our government realizes that housing costs are out of control, and many families need assistance paying for shelter. The U.S. Department of Housing and Urban Development (HUD) runs programs that help pay a portion of your rent.
The Housing Choice Voucher Program went by the name Section 8, and it helps low-income individuals afford safe housing by issuing vouchers to enrollees. As a program participant, you use the vouchers as partial rent payments.
You are responsible for the remaining amount, which is typically 30 percent. You may have to select different housing if your rental and utility obligations cost more than 40 percent of your household’s income. Typically, you will be responsible for finding a landlord who is willing to accept your voucher. You local housing authority may have a list of properties that currently work with the Section 8 program.
Other voucher programs HUD runs include:
· Homeownership Vouchers, which help pay your mortgage.
· Veterans Affairs Supportive Housing Vouchers, which is exclusively for veterans and their families.
· Vouchers for Persons with Disabilities, which helps families with disabled non-elderly household members.
· Family Unification Program, which helps families on the verge of out-of-home care and young adults leaving foster care.
Your household must have a very low income for you to be eligible for these programs. The Public Housing Authority (PHA) counts the earnings for all household members. The amount PHAs consider low varies based on the median of your area. As such, you may qualify for assistance in one county but not the other. Fortunately, you can apply at multiple PHAs, but you will need to live in the area where you qualify.
You can also find affordable housing without being part of a voucher program. As an alternative to Section 8 housing vouchers, the government owns apartment buildings and offers housing for low-income families. Learn more about this low cost public housing on the following slide.