Good NestingIt can seem like a major struggle to simply keep a roof over your head if your rent is high. Even if you have a full-time job and avoid unnecessary expenses, your rent may take such a huge portion of your income that you have nothing left over for savings, emergency funds, and other expenses.
What’s the best way to fix this issue? Beyond getting another job or moving to somewhere cheaper and less desirable, your best bet is to get help from the government.
Let’s take a look at three government housing programs that can make your rent much more affordable, so you have more financial freedom.
1. Section 8
When it comes to government housing assistance programs, this one may be the most popular of the bunch. Qualify for Section 8, and you’ll only have to pay a small portion of your monthly income towards the rent.
Who pays the rest? The government does, with a voucher that gets sent directly to your landlord every month.
Contrary to popular belief, Section 8 housing doesn’t require that you live in some rundown government building. Instead, you get to pick between an apartment, townhome, and single-family home when using a voucher.
You can kickstart the Section 8 application process by getting in touch with your Public Housing Agency (PHA). Before you do, know that you’ll have to meet income and citizenship requirements, plus more.
2. Public Housing
Although its eligibility requirements mirror those of Section 8 vouchers, public housing provides a bit less leeway in terms of where you live. You can still pick between apartments, townhomes, or single-family homes, but your landlord will be the PHA instead of a private owner.
As with a regular rental agreement, your PHA will want to ensure that you’ll make a good tenant before accepting you into public housing. To achieve this goal, they will contact your past landlords to see that you’re trustworthy.
You can start applying for public housing by contacting your PHA.
3. Privately-Owned Subsidized Housing
As you can tell by its name, this option will have you renting under a landlord who privately owns the property. Why would a landlord want to participate in this program? Because they get money from the government to make rent more affordable.
While you deal extensively with a PHA in Section 8 and public housing, you’ll need to apply to the rental management office directly when using this option.
In terms of eligibility, your income will need to sit below a certain limit to qualify for privately-owned subsidized housing. The landlord will also have their own requirements you’ll need to meet before you’re handed over the keys.
There’s a handy tool to help you find subsidized housing near you. It comes from a trusty source in the U.S. government, and you can find it here.
Good Nesting
