Finding affordable housing that not only fits your budget but also provides a safe and stable option you feel comfortable living in can be challenging. That’s where the Department of Housing and Urban Development (HUD) helps. If you’re in need, its multiple programs can help you find suitable housing. Let’s take a look at the options.
- Public Housing:
This option is a government- or non-profit organization-owned housing assistance option. It aims to help qualifying individuals or families.
- Housing Choice Vouchers:
Often referred to as “Section 8,” this is one of the most popular housing assistance programs. Its goal is to provide a home that’s not only safe, clean, and comfortable, but also affordable. All types of residences are eligible, including:
- Single-family homes, and more
Section 8 is touted for its flexibility because a tenant can move anywhere housing choice vouchers are accepted. Vouchers are issued pending approval from the local public housing authority. It’s free to apply, so it doesn’t hurt to check eligibility.
- Privately-Owned Subsidized Housing:
This program is much like Section 8, except the homes are privately owned whether by a private landlord or an organization. Owners receive subsidies for providing a more affordable rent to a qualifying low-income tenant.
Housing Program Alternatives
Unfortunately, federal-level housing resources can’t help everyone in need. A large portion of eligible households still need assistance when funds are exhausted. This inspired states and larger American cities to use their own revenue in order to help fund other programs.
If you’re looking for help and find that you aren’t eligible to receive assistance or are stuck waiting for federal assistance, consider these other options:
- Try reducing your amenities or bedrooms when looking for a home. If your ideal apartment has three bedrooms, but you can make it work with two, then you should begin looking at more affordable options. If you’d prefer to have a dishwasher, but can manage without, that’s another cost that’ll help reduce the overall price of rent.
- Do a deep-cleaning session and find personal belongings to sell such as old clothes and collectibles. It may be a good source of extra cash that can help with a security deposit.
- Temporarily move in with family or your friend while you get your financial situation together. Plan a date to leave this temporary home to help budget properly.
- Try renting your space in a house. For example, if you want to move your family into two separate rooms in a house, you may be able to save a good chunk of money. You can also find rent situations with people who aren’t home as often, creating a better layer of privacy.
- If you’re facing a serious situation where you’re in need of help immediately — for example, eviction or homelessness — then you can see if there are Temporary Transitional Housing programs that can help for the time being.
If things are tight, it’s important to remind yourself that budget restrictions don’t need to last forever. Temporarily take advantage of the resources available so you can improve your situation and work your way toward a better financial standing.