Lowincome Housing

Definition of "Low-income housing"

Housing specifically intended for those people living below a specified income level. Low-income housing qualifies for tax credits up to a percentage of cost. Specific guidelines must be followed in qualifying as well as obtaining housing financing. Urban homelessness has become a major problem in the 1980s and 1990s. Providing shelter for the poor, particularly in urban areas, is a major national concern. While the Federal Department of Housing and Urban Development has provided assistance including rent supplements and loans to developers, it is declining. As the government withdraws from active participation in housing financing and production, the amount of housing built for or filtered down to low-income households is increasingly inadequate.

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Comments for Lowincome Housing

Charles Stewart Charles Stewart said:

I'm on a fixed income and would like to buy my own home and want to get on the process of eventually becoming a home owner

May 04, 2018  15:12:46
Real Estate Agent

Hey, Charles
That's great to hear! Congratulations on this important moment of your life!

Feel free to enjoy our many resources on the blog,  the buyer advice page and the real estate glossary. It's good to be well-informed when doing the whole home buying process.

And whenever you feel ready to go out there home hunting, find a real estate agent in Philadelphia, your hometown.
The best of all of this: completely free!
Once again, congrats and good luck!

May 04, 2018  15:56:12

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