How to not lose my low income housing(section 8)? (rentals, legally, profit)

[ContraPagan]

Originally Posted by neoiey

I just got a new job that pays $40k, my spouse earns $30. Will we lose out low-income housing if our income is $70,000?

What is the maximum income 2 adults can earn in order to keep low-income housing?

Thank you,

If your household income is $70,000, WTH do you need low-income housing???? I am single and make only $25,000, yet *I* pay full price on my apartment, $685/month. I'm also debt-free to boot.

[aslowdodge]

this reminds me of the minimum wage raise in Seattle designed so people could afford to live independent of subsidies.
Many employers had employees asking to have hours cut so they could make the same and work less....AND keep their subsidies.

[meo92953]

I have so much trouble with this thread. Being a senior on social security I live in a senior HUD building &'pay 30% of my income. I will soon be moving to Arizona & pay 50% of my income which I am more than willing to do as my visit to the property was the first time in years that my allergies did not act up. Plus, getting out of the cold & snow.

Section 8, which would bring my rent to 30% there is not open. Yet, these two able bodied people are taking resources that could open up a person who needs the help. Not me, specifically, as I am not in the area but...learn to tighten your budget so a deserving person can receive the help they need.

[borninsac]

Low income varies by locale. In some areas of California, you're considered low income even if you have a six-figure income.

In Bay Area, six-figure salaries are "low income"

[nightlysparrow]

Originally Posted by meo92953

I have so much trouble with this thread. Being a senior on social security...

At least Arizona won't tax your Social Security retirement. Minnesota's one of the worst for that.

[freemkt]

Originally Posted by Campfires

What part of the country are you in where $70,000/year qualifies for low income housing?

Why do you want me to subsidize your living expenses?

Why do homeowners want renters to subsidize their living expenses?

[Delahanty]

Originally Posted by freemkt

Why do homeowners want renters to subsidize their living expenses?

Just when you think you've seen it all.

[jamary1]

Originally Posted by Delahanty

Just when you think you've seen it all.

Not surprising from him.

[Ultrarunner]

Originally Posted by borninsac

Low income varies by locale. In some areas of California, you're considered low income even if you have a six-figure income.

In Bay Area, six-figure salaries are "low income"

I guess a lot of us are low income and never knew it...

[Ultrarunner]

Originally Posted by Oakformonday

Where in the Bay Area are 2 beds 'only' $2,200/month? I have a 1 bed in Oakland and I would rent it out for $2,300-2,400/month. Brand new 1 beds are over $3,000/month. Maybe this thread is old. I didn't look at the posting date.

Don't forget long term apartment renters have the benefit of rent control and I have seen the difference between rent paid and market rent be as much a $1000 which will continue until the tenant voluntarily moves or rent control no longer exists.

Still have one single family 2 bedroom home that is under $1000... quite a few under 2k and all with very long term tenants...