Income-Based Rent
Income-based rent is set so that an eligible household would pay no more than 30% of their adjusted income toward housing costs, including utilities, each month. Unlike units with flat rents, the amount a household contributes towards housing costs may fluctuate with changes to household income, size, or circumstances.
Popular housing programs that offer income-based rents include Public Housing, Project-based Section 8, and Section 8 Housing Choice Vouchers.
Related Definitions:
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.