Subsidized housing encompasses all types of housing whereby the provincial government provides some type of subsidy or rent assistance, including public, non-profit and co-operative housing, as well as rent supplements for people living in private market housing. Types of subsidized housing.
Financial support for subsidized housing is generally administered based on “rent-geared-to-income”. Rent-geared-to-income is for low-to-moderate income households. Tenants pay rent based on the gross income of the household rather than paying the market rate. Affordable rent is defined as costing no more than 30% of a household’s total gross monthly income, subject to a minimum rent that tenants will be asked to pay based on the number of persons living in the home. Rent-geared-to-income units include all public housing stock and many developments managed by non-profit and co-operative housing providers.
Subsidized housing developments are for people with low to moderate incomes, including seniors, people with disabilities, individuals at risk of homelessness, women (with or without children) at risk of violence, Aboriginal people and low-income families.
KELOWNA – A new affordable housing development for low-to moderate-income adults, seniors and families ...