In a city of creatives and freelancers struggling to make above minimum wage, finding affordable housing in ideal parts of the city has been a continuous struggle. Angelenos living in rent-controlled places try to tighten their grips on their precious unicorn rentals, but landlords and developers have other ideas. Ever fantasized about being eligible for the city's low-income housing? Well, this may be the year you finally qualify.
The US Department of Housing and Urban Development released a new income limits summary last month, as reported by Curbed LA, and it contains some very interesting information. According to the report, $64,300 is now the median income in Los Angeles. So if you're a single person making only 80% of that per year, which is $50,500, you are now qualified to apply for low-income housing.
This isn't necessarily surprising information given that rent in the city has steadily gone up year after year. But it's still a little jarring to swallow the fact that you need to earn over $5,000 a month in order to live somewhat comfortably, without needing any additional financial assistance from the government. Of course, this all depends on where you live, but you might have to go all the way to Tarzana for that apartment below $2,000 a month.
Even if you now qualify for affordable housing, you will still have to wait up to a decade—yep—behind at least 40,000 people on the wait list. Perhaps, for now, follow The Rental Girl's advice and live in a different area near your ideal neighborhood to stretch your low-income dollar.
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