I live in a HCOL area and see a lot of apartments have something called "Essential Housing". As I understand it, they are apartments for middle income people (think teachers, police officers and other gov. workers) who make between 60% and 80% of the AMI. My understanding is that it is supposed to ease the burden that middle income people have and allowing them to reside in the city they work. I am just curious how this works and how is it different for a LIHTC apartment. Are the rents in the Essential Housing based on ones income level, do you get the same huge rent increases that people receive in the private apartments come renewal. Would love to get opinions from someone who either resides in this housing or knows how it works?
This is an example below!
https://theexchangehouston.com/p/essential-worker/
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