Subsidized Housing
A variety of federal and state government housing programs provide funds to build or rehabilitate housing that is intended for very-low-income, low-income, and moderate-income families and seniors. For the consumer, the rent or purchase price is subsidized; that is, lower than the area's market rate rents or purchase prices, thus making apartments and homes affordable for households that cannot afford market prices. For rental properties, tenants are generally required to pay no more than 30 per cent of their income for rent or rent and utilities, and there may be abatements for utility costs. In some cases, rents are not restricted to 30 per cent of income, but the rental charge structure is regulated by a government agency to remain affordable for households in a specified income range.
For information or a list of subsidized senior housing developments in your community, contact your
County Office for the Aging or see the
New York State Division of Housing and Community Renewal's (DHCR) web site
and
DHCR's Affordable Housing Directory.
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