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In the United States, subsidized housing is administered by federal, state and local agencies to provide subsidized rental assistance for low-income households. Public housing is priced much below the market rate, allowing people to live in more convenient locations rather than move away from the city in search of lower rents.
New York City attracts thousands of new residents each year and housing prices continue to climb. Finding affordable housing affects a large portion of the city's population including low-income, moderate-income, and even median income families. Since 1970, income has remained relatively stagnant while rent has nearly doubled for New Yorkers.
For low and middle income families, their house is also the greatest source of wealth. [31] Another method of studying affordability looks at the regular hourly wage of full-time workers who are paid only the minimum wage (as set by their local, regional, or national government). [32]
District of Columbia. Extremely Low-Income Renter Households: 50,011 Number of Affordable and Available Rental Homes Per 100 Extremely Low-Income Renter Households: 33 Percentage of extremely low ...
Renters who spend more than half of their household income on housing and utilities rose in 2022 to a new record high of 12.1 million, up 1.5 million from levels seen before the Covid-19 pandemic.
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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