Affordable housing can mean a number of different things to different people, but it is generally agreed that housing is affordable if a household does not have to spend more than 30% of their income on rent.
At Housing Plus we define affordable housing as:
Rents for affordable housing are offered at subsidised rates, based either on a discount to the market rent or as a percentage of household income
Affordable housing is open to a broader range of household incomes than social housing, so you can earn more income and still be eligible. Rent is also calculated differently and there are different tenancy arrangements.
You do not have to be eligible for social housing to apply for affordable housing, though people who are eligible for social housing may also be eligible for affordable housing properties.
The National Rental Affordability Scheme (NRAS) is an Australian Government initiative to stimulate the supply of new affordable, privately-owned rental dwellings.
Under round 4 of the National Rental Affordability Scheme (NRAS), Housing Plus secured funding to build 53 affordable rental properties in Orange, Bathurst and Mudgee. These are rented to eligible low and moderate income households at a rate that is at least 20% below the prevailing market rate.
The Central West is currently experiencing an acute rental affordability crisis. This crisis is linked to the local resources boom, which has produced a sudden influx of high income earners in the community. Population projections suggest that this situation may continue for some time and governments at all levels are working toward solutions that will maintain balance in the community. In the meantime, the real estate market in the Central West is experiencing a depletion in affordable rental properties.
Eligibility for affordable housing mostly depends on your household income, which must be within the maximum limits set by the NSW and/or Australian governments. Below is a guide to the maximum income you can receive to be eligible for affordable housing under the National Rental Affordability Scheme (NRAS):
|Table 1: Household income eligibility limits (under NRAS) 2017-18|
|Table 2: Income eligibility limits for various household compositions (under NRAS) 2017-18|
Click here to view our Affordable Housing Application Form
Housing Plus is a progressive social enterprise that re-invests ALL profits back into improving social outcomes for individuals and communities in regional NSW. Housing Plus is a registered not-for-profit company limited by guarantee, and is a Tier 1 accredited community housing provider.
Suite 8, Level 2, 113 Byng Street
Orange NSW 2800
PO Box 968 ORANGE NSW 2800
Phone: 1800 603 300
Fax: (02) 6361 1609