With the rental market experiencing strong growth, it has become exceedingly tough for families with low-incomes to find nice and yet highly affordable housing units. Many low-income families simply do not have the time or the resources to go about finding such housing, and without the proper help, they may find themselves struggling to put food on the table because they are paying too much in rent. Fortunately, there are a plethora of resources and services available to low-income families that are dedicated to helping them find such housing units at little or no cost.
As uncertainty within the job market continues to grow, and unemployment remains at a high level, the number of families that need low-income housing will likely grow. Many of those families are already spending as much as fifty percent of their monthly income on rent. As incomes drop due to such factors as pay cuts or job loss, the rent to income percentage will likely increase even further. Families in such a position are the perfect candidates for low-income housing, though it is likely that they may need assistance in knowing what is available to them.
There are a variety of programs at both the state and federal level that are dedicated specifically to helping those families with low household income to find low-income housing.
At the state level, families with low-income may benefit from both public housing, and section 8 properties. Both of these options will not only provide affordable rental costs for those families with low-incomes, but also some form of state assistance to cover costs generally accompanies them. In some cases, the state may cover the entire cost of rent for those living in section 8, or public housing. If you are uncertain as to whether section 8, or public housing is an ideal option for you, it is advised that you speak with a social services representative to see what is available to you.
In addition to section 8 and public housing options, many states also offer access to housing lotteries. Many of the housing options made available through lotteries are rent controlled, or subsidized, making them perfect choices for low-income families.
On the federal level, the United States Department of Housing and Urban Development, which is best known as HUD, offers three programs that are intended to help families with low-income. These are excellent options for those who need low-income housing, but do not qualify for any of the state programs. The three programs offered by HUD to help those families with low income are known as the HOME program, the Homeownership Zone, and SHOP.
The HOME program is designed to work with state and local governments, and provides grants to help low-income families find affordable housing. The grants are generally used to assist with rent or mortgage payments. The Homeownership Zone program is directed at fixing up vacated homes with the intentions of converting them to low-income housing options for families in need. These homes are fixed up with the help of federal funding, and are then made available as low-income housing. Lastly, the SHOP program is a federal-run program that provides funding for non-profit organizations that develop and build properties that will serve as low-income housing.
With programs widely available at both the state and federal level, there are many low-income housing options available. If you are looking for low-income housing, it is strongly advised that you look into non-profit, state, and federal organizations that are active in your area, as they will likely help you find everything that you need.