INSIDE INFORMATION
2022 REAL ESTATE EDITION
COMPILED BY KATY MCAFEE
AFFORDABLE HOUSING GUIDE
WHAT AFFORDABLE HOUSING OPTIONS ARE AVAILABLE?
City: The Housing Authority of the City of Austin provides housing assistance through Housing Choice Vouchers, formerly known as section 8, and 18 subsidized rental properties. All the waitlists for these housing options are currently full. Visit the HACA website for updates on open waitlists. County: The Housing Authority of Travis County has 10 aordable housing properties, many of which are on a waitlist. Visit the HATC website to access the waitlist. State: The Texas State Aordable Housing Corp. has aordable housing programs for renters and buyers. It oers loans, down payment assistance and education on homeownership.
Data from HousingWorks Austin shows that more than 200,000 families make less than 80% of the median family income in Austin. While there are several options for aordable housing in the city, it can be hard to navigate the programs and waitlists can be extensive.
SOURCES: CITY OF AUSTIN, HOUSING AUTHORITY OF THE CITY OF AUSTIN, HOUSING AUTHORITY OF TRAVIS COUNTY, TEXAS STATE AFFORDABLE HOUSING CORP.COMMUNITY IMPACT NEWSPAPER
WHAT CAN I AFFORD?
RESOURCES
DO I QUALIFY FOR AFFORDABLE HOUSING? To qualify for aordable housing, one has to meet the property’s income restrictions. These restrictions are based on MFI, or median family income. For reference, HATC aordable properties require a 60% median income level to qualify, but options for 20%-120% exist throughout the city.
HousingWorks Austin has a list of aordable housing for people in a variety of circumstances.
Homeowners should spend no more than 28% of their monthly income before taxes on a mortgage.
28% of monthly income
www.housingworksaustin. org/do-you-need-aordable- housing
FIND YOUR MFI 2022 area median family income in Austin
Median income limit
1-person household 4-person household
Aordable Housing Austin has a search engine that will optimize the best housing options based on income and number of people in your household. It also provides matches for wheelchair-accessible homes and landlords that accept Housing Choice Vouchers.
Anyone who spends more than 28% on rent or mortgage is considered cost burdened.
20%
$15,450
$22,050
60%
$46,380
$66,180
$7,354 Monthly income $2,059 Recommended housing cost $88,250 Annual family income
80%
$61,800
$88,250
100% 120%
$77,200 $92,700
$110,300
$132,375
www.atxaordablehousing.net
27
SOUTHWEST AUSTIN DRIPPING SPRINGS EDITION • JULY 2022
Powered by FlippingBook