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The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The District of Columbia Housing Authority had $560 million in net assets as of January 2013. More than 99 percent of DCHA's funding comes from the federal government. In 2012 and 2013, about 77 percent of the agency's total revenues were provided by the U.S. Department of Housing and Urban Development (HUD) for HCVP and an additional 11 ...
Houston. Household median income: $60,440 Total annual cost of living: $40,336 Overall average rent: $1,287 1-bedroom average rent: $1,136 2-bedroom average rent: $1,346 See More: The 30 Safest ...
Newly constructed rental housing must remain affordable for at least 20 years. [7] For owner-occupied housing (newly constructed and remodeled), acquired rental housing, and remodeled rental housing, the minimum affordability term ranges from 5 to 15 years depending on the amount of funds received in relation to the number of assisted units. [14]
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
The main Section 8 program involves the voucher program. A voucher may be either "project-based"—where its use is limited to a specific apartment complex (public housing agencies (PHAs) may reserve up to 20% of its vouchers as such [11])—or "tenant-based", where the tenant is free to choose a unit in the private sector, is not limited to specific complexes, and may reside anywhere in the ...
The rate of homeownership in the United States, as measured by the fraction of units that are owner-occupied, was 64% as of 2017. [1] Housing in the United States is heavily commodified, and when viewed as an economic sector, contributes to 15% of the gross domestic product. [2]
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states.
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