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Buildings
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Low-income housing refers to housing that is intended for households with low incomes.
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In the United States, the Department of Housing and Urban Development (HUD) defines low-income as households that earn 80% or less of the area median income (AMI). The AMI is the middle income for a given area and is based on the income of all households in the area. For example, if the AMI for a certain area is $75,000, then a household earning $60,000 or less would be considered low-income. Low-income housing can take many forms, such as public housing, low-income housing tax credit properties, and community land trust homes, to name a few. The goal of low-income housing is to provide safe, decent, and affordable housing to households who are unable to afford to rent or purchase housing on the open market. These properties are usually maintained to a high standard, and tenants often have a secure tenancy, meaning they can stay in the property for as long as they wish, provided they follow the terms of the tenancy agreement. The rent for low-income housing is usually lower than market rents and is based on the tenant's income. ==How it is Provided== Low-income housing is provided in various ways around the world, depending on the country and its housing policies. Some common methods include: *'''Public or Council Housing''': As mentioned earlier, this is housing that is owned and managed by local government authorities, and is intended for low-income households. *'''Subsidized housing''': In some countries, the government may provide financial assistance to private developers or landlords to build or maintain affordable housing units. *'''Community land trusts''': This is a type of affordable housing that is owned and managed by a nonprofit organization, which holds the land in trust for the benefit of the community and ensures that the housing remains affordable for future generations. *'''Tax incentives''': Governments may offer tax incentives to encourage private developers to build affordable housing units. *'''Microfinance''': Some countries offer microfinance loans to low-income families to help them build or purchase their own homes. *'''Rent control''': Some countries have laws that limit the amount landlords can charge for rent, making it more affordable for low-income renters. *'''Informal settlements''': In many developing countries, low-income families may live in informal settlements, which are unplanned communities that lack basic services such as sanitation, clean water, and electricity. *'''Public-Private partnership''': Governments may partner with private companies to provide affordable housing, by allowing private companies to build or manage housing units and receiving financial assistance or tax breaks. It's worth noting that the approach and method of providing low-income housing can vary greatly between countries, and what works in one country may not work in another.