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Section 8 (housing) 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 Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [ 1 ] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use of private ...
Demolished. 1972–1976. The Wendell O. Pruitt Homes and William Igoe Apartments, known together as Pruitt–Igoe (/ ˈpruːɪtˈaɪɡoʊ /), were joint urban housing projects first occupied in 1954 in St. Louis, Missouri, United States. The complex of 33 eleven-story high rises was designed in the modernist architectural style by Minoru Yamasaki.
The report's key figure, the "Housing Wage," reveals the hourly earnings necessary for full-time workers to afford fair market rental homes without exceeding 30% of their incomes. Nationally, the 2023 Housing Wage is $28.58 per hour for a modest two-bedroom home and $23.67 per hour for a one-bedroom home.
Affordable housing is housing specifically allocated for individuals earning 80% or less of the area median income (AMI) of the region they reside in, and restrics their rent payment to 30% of their monthly income. [158] Mixed-income housing is defined by Brophy and Smith as "a mix of subsidized and market-rate housing". [159]
According to 2007 Census Bureau estimates, the median income for a household in the city was $98,923, and the median income for a family was $111,455; these numbers make Irvine the seventh richest city in the US, among cities with population 65,000 or higher. [34] 9.1% of the population and 5.0% of families were below the poverty line. Of the ...
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