Unlike Public & Community Housing, where rent is defined as a percentage of your income, affordable housing usually sets the rent as a percentage of the normal market rent.
Property developers and State Governments can define ‘affordable housing’ to mean different things. That’s why HAAG is campaigning for a nationally legislated definition of affordable housing.
| Cost each fortnight | Rent is usually set as a percentage of ‘market rent’, commonly 80%. However 80% of the going private market rent can still be unaffordable to people on low incomes. ‘Market rent’ can be set at the average price of homes in the surrounding district, making it in some instances more expensive than the average price of homes in the local neighbourhood or specific building. |
| Eligibility | Eligibility for Affordable Housing properties varies greatly. Many have both minimum and maximum income limits. Homes Victoria lists their eligibility requirement here. |
| Location | Affordable housing is often located in newer, medium and high density developments. |
| How long you can stay there | When moving in to affordable housing, it is important to find out how long the rent will be set at the ‘affordable’ level. Many affordable housing schemes mandate the homes be made affordable for 5 or 10 years, after which they can revert to the full market rent. |
| How to apply | Information on how to apply for affordable housing in Victoria is listed on the DFFH website. For other states see these links from the mygov website. Other affordable housing schemes may allow direct applications. |