CHICAGO: A new rental model based on local incomes is being proposed as the basis of pricing seniors affordable housing. This is the finding of new research.
The report suggests the introduction of a ‘living rent’ that would link affordable housing rents to a proportion of local income.
Rents would be reduced in many cases compared to the current system, under which they are set at 80% of the market rent.
In their foreword to the report, the researchers wrote, “Current policy links ‘affordable rents’ to a dysfunctional housing market… deepening the poverty trap.”
The ideal model is already being used by…