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Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...
The term "affordable housing" refers to housing that is considered economically accessible for individuals and families whose household income falls at or below the Area Median Income (AMI), as evaluated by either national or local government authorities through an officially recognized housing affordability index. [3]
All 390 units are categorized as market-rate housing. Souls said there will be no income restrictions for the units, but the primary demographic is middle-income singles, couples, and families ...
In an effort to make housing more affordable, BRIDGE acquires properties and reduces income restrictions that can make it difficult for low-income families to find affordable housing.
Under the mayor’s partnership with Bank of America, there are no income restrictions to qualify for the assistance. However, the assistance is tied to about 400 homes identified in the city.