HOUSING INITIATIVES PROGRAMS
AFFORDABLE HOUSING
What is affordable housing?
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Housing is affordable when a family pays no more than 30% of its total income on its mortgage, insurance, taxes, and utilities if they own the home.
OR
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Housing is affordable when a family pays no more than 30% of its total income on rent and utilities if they rent.
State and federal government agencies recognize that households have other essential expenses including food, clothing, child care, transportation and others.
Therefore, housing is affordable if it does noes not exceed 30% of a family's annual income.
In addition, the definition of "low income" is established by the US Department of Housing and Urban Development (HUD) as a percent of the Area Median Income (AMI) and varies from region to region and by houshold size.
Did you know?
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An estimated 12 million renter and homeowner households now pay more than 50% of their annual incomes for housing.
For more information visit
DO YOU NEED MONEY TO BUY A FIRST HOME OR START/EXPAND A SMALL BUSINESS?
The Midland College Business and Economic Development Cetner (BEDC) has a Savings for Independence program to match the savings of Midlanders saving for a first home or to start/expand a small business. For every $1 saved, the program will match $3. Up to $1,000 of savings will be matched.
Program participants will earn match money by
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Attending a free financial literacuy class
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Attending first time home or small business training
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Establishing a habit of saving
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Meeting income guidelines
For more information, please call the BEDC at 684-4309 or visit
FREE TAX HELP for Households earnng less than $42,000!
If your household earned less than $42,000 in 2008, you may qualify for:
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Earned Income Tax Credit
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Household Tax Credit
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Childcare Tax Credit
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Senior Tax Credit
Dial 2-1-1 for a list of Midland County
Volunteer Income Tax Assistance (VITA) Providers
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