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By law, each development must set aside a minimum number of units for eligible low- or very low-income residents. Many LIHTC properties are operated as 55+ or 62+ communities, or senior apartments.
Section 8 (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]
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 ...
This nearly $20 million, 38-unit development broke ground Thursday and is set to be completed in September 2025. The building will be home to low-income seniors ages 62 and older. Pennsylvania ...
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...
San Diego County is hoping a new program will keep low-income seniors off the streets before they even get close to homelessness. San Diego County approves rental assistance for low income seniors ...
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