Lower-Income Housing Options

There is a great need for lower-income housing, which is usually subsidized in some manner. Many people who retired a long time ago are outliving their money. Their fixed incomes haven't increased with the cost of living.

Subsidized housing encompasses all types of housing whereby the local government provides some type of subsidy or rent assistance, including public, non-profit and co-operative housing, as well as rent supplements for people living in private market housing.

Realizing this need, some developers in Georgia are building lovely senior housing in which the government gives them tax credits for those who need lower rents.

Financial support for subsidized housing is generally administered based on "rent-geared-to-income". Rent-geared-to-income is for low-to-moderate income households. Tenants pay rent based on the gross income of the household rather than paying the market rate. Affordable rent is defined as costing no more than 30% of a household's total gross monthly income, subject to a minimum rent that tenants will be asked to pay based on the number of persons living in the home. Rent-geared-to-income units include all public housing and many developments managed by non-profit and co-operative housing providers.