Maxwell Drever explains affordable housing in a lucid manner

affordable housing units
affordable housing units

Public housing and affordable housing are terms often used synonymously. However, in its process, it creates plenty of confusion. In reality, both public housing and affordable housing are two different sorts of housing and have other criteria for eligibility. 

The challenge arises as once the confusion got created, populations struggling and looking for affordable homes may be eligible for assistance under the many schemes and programs. Often it is understood that governmental housing assistance is only accessible to those from low-income groups. However, with a clear understanding, affordable and public housing are also accessible to the workforce. Below are a few differences that set both types apart. 

v  Affordable housing is a diverse concept 

Commonly, Affordable housing is defined by the government as housing units owned or rented in which the housing expenses are below 30% of the total monthly income in a household. In simpler words, these estates are built and made accessible for low-income groups set below the market rate. Multiple ways are opted to achieve this. 

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The government grants tax credits to private developers in the first stage of developing affordable housing units. Depending on the area, the housing units were accessible to a specific set of income groups, either the workforce or low-income group. Households with a lesser area median income are eligible for subsidies given by the government to maintain housing expenses. 

The cost of affordable housing and several rent subsidies vary based on the location. A significant observation is that housing affordability, along with rent subsidies, highly depends on the location of the housing unit. In many cases, rent subsidies are accessible to households and do not get restricted to the estate. To put it another way, if a family is eligible for grants, they can carry the support from one reasonable home to another without any loss of advantages, explains Maxwell Drever

v  Understanding Public housing 

Public housing is a housing tenure managed or owned by public authorities to offer housing units to low-income households. Public housing developments may fall under the jurisdiction of public officials. However, it is often gets administered by housing agencies, in contrast to non-public housing units, which only have a portion of housing units set for the workforce, low-income groups, etc. Hence, public developments became entirely committed toward eligible low-income groups, states Maxwell Drever

v  Choosing between public housing and affordable housing 

The conclusion to analyzing and understanding both public housing and affordable housing is that anyone struggling with finding affordable homes might have more alternatives than they realize.  

In the middle of public and affordable housing units, there are many ways to have the home one can afford. The best way is to lay out one’s options and understand which one works best for them, whether they are eligible for subsidies or any house assistance. 

Affordable housing is becoming a greater need. But with the suitable options, you can indeed find a home that fulfills all requirements. Affordable housing is a dynamic concept that needs due evaluation for better implementation. 

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