Pahrump Affordable Housing
Pahrump affordable housing means housing with low enough costs to accommodate a median household income in Pahrump. This article focuses on the affordability of owner-occupied and private rental housing in Pahrump Nevada.
When choosing a home to live in Pahrump Nevada there are many factors to consider. For example some might choose to spend a lot on housing because they feel they can afford the luxury, while other may not have a choice. In Pahrump it is generally recommended that housing be chosen that does not exceed 30% of a household’s gross income. If at any time a Pahrump home is costing more then 30–35% of household income, then this Pahrump home is considered unaffordable. By providing Affordable housing in Pahrump many residents have the ability to maintain their housing expenses under the recommended 30%. This is why Liberty Estates provides Pahrump Affordable Housing.
Our Pahrump affordable housing designation allows the federal government to provide you with rent subsidies such as section 8, where the government will pay your rent for you. Financial assistance is given for Pahrump homeowners by allowing them to reduce their yearly taxes by the total amount that they pay in mortgage interest. This means if the monthly payments to rent or rent to own a home in Pahrump where the exact same amount, it would still be cheaper to rent to own, since all interest paid would be applied to your yearly taxes. Additionally the government provides assistance to lower income Pahrump households with housing subsidy programs which are generally three types:
- “Tenant based” subsidies given to an individual household, known as the Section 8 program in Pahrump.
- “Project based” subsidies given to the owner of housing units that must be rented to lower income households at affordable rates, and
- Public Housing, which is usually owned and operated by the government.
Project based help is also provided through Pahrump Section 8. The United States Department of Housing and Urban Development (HUD) and USDA Rural Development administer these programs. Unfortunately both HUD and USDA Rural Development programs have not created much Pahrump affordable housing since 1986 when the Low-Income Housing Tax Credit program became the main federal program to produce Pahrump affordable homes. The Pahrump housing produced in this new program is less affordable than the former HUD programs which produced much more affordable housing in Pahrump.
Pahrump households are measured by how much they make compared to the Area Median Income or AMI which is $45,318 in Pahrump as of 2009. If you or your household are making less then this amount every year, then Pahrump affordable housing is a good option. To see how you compare with other Pahrump residents please see where you fall into the below:
- Moderate income households earn between 80% and 120% of AMI.
- Low income households earn between 50% and 80% of AMI.
- Very low income households earn no more than 50% of AMI.
The Section 8 voucher program in Pahrump allows the maximum household contribution to rent to be as high as 40% of gross income.
Most people in the United States are living in affordable housing. In 2011, the median household paid $958 per month in total housing costs, while Liberty Estates offers complete housing starting at $300 a month. To see all the currently available mobile home parks with Rent and Rent to Own options please contact the management at (775) 773-8711 or visit us at 741 S. Big Five Road Pahrump NV 89048.