In the United States, more than one-third of all households pay over a quarter of their income on housing costs. In many parts of the country, low-income families face a particularly dire situation.
In addition to high housing costs, low-income families often have other expenses that make it difficult for them to save for a mortgage and cover other necessities. Individuals with limited incomes may be unable to afford a home that is not affordable.
Even if you can afford a home on your own, renting may not be an option if you can’t afford the cost or don’t qualify for mortgage financing due to your income and/or credit history. That’s why many organizations have sprung up to help with just this sort of problem.
They provide suitable housing for people in need at a price they can afford. Non-profit housing corporations, known as “housing trusts” or “non-profit housing providers” in different places, are non-profit organizations that own and manage affordable housing for low-income residents.
They operate on a not-for-profit basis so that any surplus generated from operating costs is reinvested back into the housing trust itself rather than going directly into the pockets of shareholders or board members as would be the case with a standard company.
You may be raised with various questions which is why we have created some useful tips and information regarding low-income housing. Questions like, “Am I Eligible?” “Is it in my area?” “Where do I apply for this?” will be answered down below. But first of all, we need to get down to the basics.
What is Low-Income Housing?
The term affordable housing is exactly what it sounds like: a place to live that is more affordable than usual. Affordable housing is generally understood to be housing that costs 30% or less of a household’s gross income.
But what do all those terms mean? The household’s gross income is the amount of money they earn before taxes and other deductions like healthcare costs are taken off. So, if you earn $7,000 a month before taxes, the gross income of your household would be $14,000. 30% of $14,000 is $4,200. This is the maximum amount you should be paying for housing.
How to Find Affordable Housing
There are lots of resources available online and in person to help you find low-income housing. Here are just a few:
- Local and/or state Department of Housing and Urban Development (HUD) offices: HUD is a government entity that provides assistance in finding affordable housing for those who qualify.
- Local Area/Neighborhood-specific non-profit housing agencies: There are many non-profit housing agencies in every city and state. Find the ones that focus on your area and what you need.
- Local newspapers and websites: Choose the websites that focus on your area, or even neighborhood, to find leads on available housing in your area.
- Craigslist: Craigslist is a great place to start your search, but you want to be careful. If you choose to pursue any leads you find on Craigslist, you want to make sure they are legitimate.
Do I qualify for this?
Government-funded aid housing accepts all incoming elderly, families, and handicapped throughout the whole United States. With over 5 million state-owned homes ready for the availability of everyone who wishes to apply to the program. You can wish to enlist in the program by contacting your local Public Housing Agency (PHA) where you want to reside.
Finding Low Income Housing for Seniors
There are a few things to keep in mind when looking for housing that is specifically designed to suit the needs of seniors. Apartments designed for seniors generally feature wider doors, handrails in the bathroom and kitchen, and sometimes even lower countertops and cabinets.
If you are a senior citizen, make sure that you include information about your specific needs in your housing search. A good non-profit housing agency will be able to help you find suitable housing that is equipped to meet your needs.
Finding Low-Income Apartments for Families
If you have a family, you’ll need to find a housing situation that accommodates you and your children. Many non-profits have housing options for large families as well as single-parent families. Non-profit housing agencies specialize in providing housing for people with low or very low incomes, so they are great places to start looking.
Another place to start is with your city council or mayor’s office. They may have information on how to find low-income housing in your area.
Finding Low-Income Housing Through Partnerships
If you don’t qualify for low-income housing through normal channels, there are a few non-profits that are devoted to helping people who are unable to qualify for low-income housing find suitable housing.
One example is the Friendship House in Chicago which helps people who are HIV positive, suffering from mental illness, or disabled find housing that meets their needs and is within their budget.
Another option is to contact your local churches and ask if there are any programs in place that help people find housing. Churches often partner with non-profits and other organizations to help people in need.
Finding Low Income Homes for Single Adults and Adults with Children
Single adults and adults with children have unique housing needs. Non-profits have different programs designed to meet the specific needs of these populations, so it is essential to know what your needs are before you begin your search.
If you are an adult looking for low-income housing with children, make sure you tell your non-profit housing agency that you have children. They may be able to help you find affordable housing that has the features your children need.
If you are an adult with no children, make sure to mention this as well. It may affect the types of housing options that are available to you.
Conclusion
Finding low-income housing is a tricky process. There is no one-size-fits-all solution. You have to figure out what works best for your situation and start there.
Even if you don’t end up finding housing through a housing trust, the process of trying will help you understand your needs better and make you more prepared for when the time comes to make a decision.
