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June 24, 2024 at 8:22 AM. WASHINGTON (AP) — The Biden administration is announcing new steps to increase access to affordable housing as still-high prices on groceries and other necessities and ...
The Biden administration on Wednesday announced the award of $85 million in housing funds to 21 state and local governments for a new program aimed at helping them remove barriers to the ...
A housing surplus that still prices out ... economists might debate the level of housing supply available in the U ... Low-income families were defined as those with incomes between 30% and 60% of ...
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 ...
The report's key figure, the "Housing Wage," reveals the hourly earnings necessary for full-time workers to afford fair market rental homes without exceeding 30% of their incomes. Nationally, the 2023 Housing Wage is $28.58 per hour for a modest two-bedroom home and $23.67 per hour for a one-bedroom home.
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]
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