Affordable Housing is Possible
Finding affordable housing in the United States can be a daunting task, especially as home prices and rental rates continue to rise in many areas. However, with the right resources, strategies and information, it’s possible to secure housing that fits your budget. Whether you're a low-income household, a recent graduate or someone simply looking to cut costs, there are multiple avenues available to help you locate affordable living options. Keep reading to learn more about how to get affordable housing.
Start with Government Assistance Programs
The federal government offers a variety of housing assistance programs designed to help low- and moderate-income individuals and families. These programs can significantly lower housing costs and increase access to safe, stable living environments.
Section 8 Housing Choice Voucher Program
Administered by local Public Housing Authorities (PHAs), this program provides vouchers to help cover a portion of rent in privately-owned housing. Tenants typically pay 30% of their income toward rent, and the voucher covers the rest.
Public Housing
Managed by PHAs, public housing units are government-owned and offered at below-market rents. While availability varies by location, this option can be especially helpful in urban areas with high housing demand.
Low-Income Housing Tax Credit (LIHTC) Properties
These are privately-owned apartment complexes that receive tax credits for offering units at reduced rents to qualified tenants. Search for LIHTC properties through databases like AffordableHousingOnline.com or your local housing authority.
USDA Rural Development Program
If you’re open to living in a rural area, the U.S. Department of Agriculture offers rental assistance and affordable housing options in qualifying rural communities.
Use Online Search Tools and Platforms
Several websites specialize in listing affordable housing options, making it easier to search by location, price, income limits, and unit availability.
- AffordableHousing.com. Formerly GoSection8, this is one of the largest online resources for Section 8 and low-income rentals.
- HUD.gov. The Department of Housing and Urban Development (HUD) offers an online search tool to find HUD-subsidized apartments in your area.
- Zillow, Apartments.com, Craigslist. While these platforms focus on market-rate rentals, you can use filters to narrow down by price and occasionally find hidden gems or landlords willing to negotiate.
Consider Moving to More Affordable Cities or States
Housing affordability varies widely depending on where you live. In general, smaller cities and rural areas tend to offer significantly lower housing costs compared to major urban centers.
Most Affordable Cities
- Decatur, Illinois. Known for it's agriculture and manufacturing industries, Decatur's cost of living is roughly 20% lower than the US average. Housing costs specifically are quite low, and retirement income isn't taxed in the state of Illinois.
- Oklahoma City, Oklahoma. According to the Cost of Living index, housing prices in Oklahoma City are roughly 43% lower than the country's average. You can save on housing while enjoying the amenities of the state's largest city.
- Amarillo, Texas. In Amarillo, you can pay roughly 21% less on monthly apartment rent than the rest of the country. Unemployment rates are also low.
- Wichita, Kansas. If you want to live in the largest city in Kansas, you'll save an average of roughly 34% on housing. However, the trade-off is calling Tornado Alley home.
Affordable States to Consider
- West Virginia. Consistently ranked as one of the lowest in terms of housing costs.
- Mississippi. Offers affordable housing and low property taxes.
- Arkansas. A cost-effective option with a variety of rural and small-town communities.
- Kansas. Low cost of living and a stable real estate market make it a viable option.
- Alabama. Offers affordable housing in both rural areas and small cities.
Explore Shared Housing and Co-Living Arrangements
If you’re open to nontraditional housing arrangements, shared housing can drastically reduce costs. This includes:
- Roommates. Sharing an apartment or house can cut rent and utility bills in half or more.
- Co-living spaces. These are designed for community living and typically include furnished rooms, shared common areas and inclusive utilities, often for one monthly fee.
- Home-sharing. Organizations like Silvernest match older homeowners with renters, often at below-market rates in exchange for companionship or light assistance.
Other Tips to Maximize Affordability
- Set a strict budget. Aim to spend no more than 30% of your income on housing. This ensures financial stability and reduces risk of rent burden.
- Act quickly. Affordable units go fast. Set up alerts on housing websites and respond promptly to new listings.
- Check for local non-profits. Many communities have organizations dedicated to helping residents find and apply for affordable housing. These groups can also offer financial counseling and rental assistance.
- Look for rent-controlled or stabilized units. In some cities like New York or San Francisco, these programs can offer long-term affordability.
Finding affordable housing in the U.S. requires research, patience and sometimes flexibility about where and how you live. Utilizing government programs, exploring lesser-known housing markets and taking advantage of modern tools can open the door to many affordable living opportunities. The process may take time, but with the right strategy, affordable housing is within reach.