4 Things to Know Before Renting an Income-Restricted Apartment
There’s no doubt about it: Like pretty much everything else in life, the cost to rent an apartment in the U.S. is going up.
Median monthly rent for U.S. apartments rose by 15 percent from 2000 to 2016, according to Harvard University’s Joint Center for Housing Studies. During that time, the median monthly rent went from $850 to $980.
To reduce the cost of an apartment, some renters turn to something called income-restricted housing. At complexes that offer income-restricted apartments, the monthly rental amount takes into account the renter’s income.
How does all of this work? Here are four things you should know before renting an income-restricted apartment. Read the rest of this entry »
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