question about qualifying for affordable housing?

Question

I'm considering about trying out different affordable housing lotteries for the first few years I start off my career just cause I won't be earning as much and I can save a lot more. I live in NYC so even with a pretty decent salary, you can qualify for affordable housing and it would save a lot. The thing is, do they look at other payments you get besides your income? If you get a trust fund or my parents/grandparents just give me money, will they consider that to disqualify me even if make under the maximum income to qualify? I don't want to spend it on housing. I'd rather save it for other things and since it isn't technically income from a job, would that disqualify me for affordable housing since it's technically for people who can't afford housing otherwise?

Update:

ok guys. I wasn't planning on secretly hiding the rest of my money. I was just wondering if they ask about that in order to figure out if i should even bother applying

Maxi · Answer

'Income' is all and any money you receive............ and why should someone who can afford to pay rent have tax payers pay for them

Slickterp · Answer

Yes, you must declare all of that.

Those programs aren't because you'd rather save.  They are for people who actually NEED it, because they'd end up homeless without it.  It isn't technically for those people, it's LITERALLY for those people, and to not disclose other money you have coming in is actually felony benefits fraud.

Politically Correct · Answer

You can apply.  You will need to submit at least two years of tax returns.  Small gifts of money from your parents are not taxable but income from a trust fund most certainly is.  But even if you meet the income guidelines, priority is given to people with young children so you will never get anything that way.

Your best bet is to look for a rent stabilised apartment.  That will be about the only way you will actually get something at a low price although it will also be low end.  Look in Harlem.  Further up the quality spectrum try Turtle Bay/Midtown east.  That area is great value for money and incredibly convenient.

R P · Answer

Sooooo .. you think it's ok for the taxpayers to support you even though you have family to help. Not to mention the fact that you are a trust fund baby.

A Hunch · Answer

Welfare is supposed to be a helping hand, all you want is a handout.
You would be committing fraud if you don't claim all sources of gifts and income.

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question about qualifying for affordable housing?

5 Answers