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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 ...
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]
ROCHESTER — A ribbon cutting Monday at the Gafney Home marks the end of a long journey of restoration, refitting and upgrading, and the beginning of low-income housing for seniors age 62 and up ...
The term "affordable housing" refers to housing that is considered economically accessible for individuals and families whose household income falls at or below the Area Median Income (AMI), as evaluated by either national or local government authorities through an officially recognized housing affordability index. [3]
The Franklin County Board of Commissioners granted $5 million in COVID-19 funds to the Affordable Housing Trust to help emerging minority developers.
"They're paying 50% of their income, 60% of their income on housing, which just isn't sustainable," she said. "We need more housing and we need it quickly," said Kahle.
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