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Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The “40x” rent rule states that your annual gross income should be around 40 times your monthly rent payment. For example, if your annual pre-tax income is $50,000, the rule suggests your ...
A study conducted by the National Low Income Housing Coalition (NLIHC) looked at the hourly wage needed to afford rent in every state in 2023, and the Evergreen State topped the list. Housing ...
Living spaces. The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [1] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use ...
A new study conducted by the National Low Income Housing Coalition (NLIHC) looked at the hourly wage needed to afford rent in every state and to no one’s surprise, California topped the list.
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