\o/

[fox]

Dudes!

Did you guys know that eligibility for "affordable" housing, where there are income restrictions based on the number of residents, is computed by gross income?

My salary is just high enough to price me out of that rental bracket, which of course means I can't quite afford the same apartment at the "market" (read: obscenely inflated) rate; but my federal adjusted gross income? [does a little dance] The cut-off just about splits the difference between my salary and my AGI, actually.

This makes the decision of whether, when, and where to move SO MUCH EASIER omfg.

Comments

Congratulations!

[shezan.livejournal.com]

...Can you explain how this whole "affordable housing" thing works?

Re: Congratulations!

[darthfox.livejournal.com]

As you know, Bob, housing in urban areas in the US (and probably in Paris as well [g]) is Quite Expensive. In their wisdom and benevolence, the government have instituted various programs of rent control; under the arrangement I'm talking about, you can't rent an apartment if the residents' combined income exceeds [some figure]. At the building I was talking to today, the max for one resident is about 2.5K less than my salary ... but about 2K more than my federal adjusted gross income, which is why we love student-loan interest adjustments, yes we do. The rent for a one-bedroom apartment in such a place is 25-30% lower than the rent for a similarly-sized 1BR in a similarly-sized (though, it must be admitted, probably better-kept) building a block or so away -- which, I mean, even that is not affordable by some standards, so calling it "affordable housing" is a sort of willful federal misnomer of the sort we get used to around here. It's tax-credit housing, and I'm delighted that it seems I qualify for it. (I'll double- and triple-check before signing anything at all, of course.)