As of 2015, the U.S. Department of Housing and Urban Development sets the low-income limit at 80 percent of the median income for the county in which the person resides. Interested residents should contact their local public housing authorities to apply for housing assistance.Continue Reading
There are four income limit categories as defined by HUD. The moderate-income category is income that does not exceed 115 percent of the median income in the residential county of the person applying. Low income is an income of no more than 80 percent of the residential county's median income. Very-low income is income no more than 50 percent of the median income, and extremely low income is 30 percent of the median income or below. HUD offers subsidized housing programs in all categories, and some of those categories do have age requirements, while others do not.
One program is the Housing Choice Voucher Program, which offers subsidized housing to any household meeting the low or extremely-low income criteria. When applying, applicants must provide their current address and phone number, as well as an estimate of the anticipated family income for the next year. Employment, bank account details and other information may also be needed in order to verify the income.Learn more about Real Estate