Any housing project or residential building which rents units out to tenants who are eligible for reduced rent based on income and family size, or who receive a federal stipend to help make their monthly rental payment are low-income housing.
These residential units are managed by a housing authority or are privately managed by landlords or rental agencies who accept a government-issued payment along with the rental payment from their tenants.
While the purpose of the Low-Income Housing Tax Credit (LIHTC) is to uplift the formation of more low-income housing, there are other alternatives to supports the people seeking low-income housing.
The Department of Housing and Urban Development (HUD) offers low-income housing subsidies.
The HUD’s website has the terms of income qualifications and as the wages grow or drop in a given area they are subject to change. To qualify, a prospective renter must earn less than 50 % of the median income in their area.
While the assistance is available to single renters and to families, there are qualifications for room counts in prospective homes and single renters may not be included in a housing project because the project lacks the availability of properly sized units.
Low-income housing is not the same as affordable housing, which is for families who are spending more than 30 % of their income on housing.