Single Blog Title

This is a single blog caption

Affordable Housing Rent

Today we’re going to take a look at rent. Specifically, we’re going to explore how rent is calculated, and also what is expected of all of our tenants. Most importantly, we’re going to show you how choosing affordable housing can help your bottom line!

Quick Facts:

  • Tenants are required to pay minimum rent to the PHA, which we have set at $50 per month
  • Tenants are required to pay 30% of their adjusted gross income for rent and utilities (unless that number is less than $50/month)
  • Tenants may be eligible for deductions on their rent, similar to taxes, if the have dependents, disabilities, are elderly, etc.

Income Limits:
Anyone is welcome to apply for our affordable housing programs—we accept all applications. However, in order to qualify for our programs, your income must be under our income limits. An income limit is simply the maximum amount one can earn to qualify for housing.

The U.S. Department of Housing and Urban Development (HUD) sets income limits for each county in the United States, and they are based off of the area’s median income (AMI). In Peoria County, our AMI is $72,800.00. In order to qualify for our programs, you must earn less than 80% of the AMI (table below).

AMI

1 PERSON

2 PEOPLE

3 PEOPLE

4 PEOPLE

5 PEOPLE

6 PEOPLE

7 PEOPLE

8 PEOPLE

72,800

37,750

43,150

48,550

53,900

58,250

62,550

66,850

71,150

Did you know: In Peoria County, over 40% of residents qualify for some level of housing assistance. To apply for the affordable housing, click here.

Rent:

The PHA has set our minimum rent at $50. All of our residents are required to pay at least $50 per month, unless they are eligible for deductions. Those who are elderly and disabled are eligible for deductions that may decrease their rental amount, as well as those who have dependents. If you are working, your rent increases to 30% of your adjusted, gross income, as long as that number is over $50.

The average rental rate for a 1-bedroom in Peoria is $608.00 per month, excluding utilities. The average 1-bedroom apartment with the PHA will only cost a tenant a maximum of $441.00. By simply utilizing PHA as your landlord, you can instantly free up cash for yourself and your family.

Utilities:

Many people don’t know that each tenant or client is given a utility allowance, which is part of their housing assistance. The amount of money the housing authority contributes towards your rent includes the average cost of utilities. Can’t get your utilities in your own name? No problem: Harrison Homes and Taft Homes are both master-metered, meaning residents do not have to have utilities in their name in order to live there. Plus, our award-winning ARRO program specializes in assisting clients pay down utility debt in order to give them more housing choice.

A Growing Need:

There’s a tremendous need for affordable housing all over the United States, and Peoria County is not an exception. As we stated above, an estimated 40% of all citizens in the county are eligible for some sort of housing assistance. Our rents are lower than that of traditional market rate housing, and our scattered sites program features over 100 homes located in a variety of areas in the city of Peoria.

Housing is often a family’s biggest expense. With lower rental payments in already lower-priced rental units, the Peoria Housing Authority can help you gain financial stability with the simple act of moving into one of our units. If you’re interested in applying for public housing, click here.

 

Leave a Reply