What is Subsidized Housing?
It is a program that provides housing to qualified low-income individuals and families. It allows the tenant to pay rent that is less than market rent. Rent is calculated based on a percentage of the tenant’s adjusted gross income, usually around 30%. The subsidy is usually paid by the government, run by a local housing authority (i.e., HUD).
What does Subsidized Housing mean for you?
Rent based on 30% gross income
This type of housing allows the tenants to pay rent that is less than market rent, based on a percentage of the tenant's income.
HUD Subsidized Rent: The rent is based on income, and the local housing authority or HUD pays the remaining portion. A resident pays 30 percent of their monthly income on rent.
Notes:
- Rent would be approximately 30% of your household's adjusted