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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 ...
Housing subsidies are government funded financial assistance programs designed to mitigate the costs of housing for low-income tenants. Subsidies can be provided in the form of housing vouchers given to tenants, e.g. Section 8 (Housing) , or via direct deposits to landlords with government contracts to provide affordable housing .
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]
To qualify for low-income housing, your income must typically be less than than 80% to 50% of the median income in your county or city. However, each housing program can set different eligibility ...
The National Low Income Housing Coalition keeps track of all the rental assistance programs available on its website. Renters in need can start there to find a program in their area. They can also ...
A 41-unit apartment building with parking at the base, all units income restricted. The Villages at Manville, Lincoln: $1.3 million in low income housing tax credits, $13 million in loans. A ...
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