Eviction unleashes a cascade of instability. It damages credit and often begins the chaos and crisis of homelessness. There’s a risk of family break-up or increased conflict. The struggle and expense of finding new housing: security deposit, first month’s rent, re-activating utilities and other chores necessary to move. That’s why Homeless Prevention is so valuable. It benefits property owners as well as tenants. If we can help an otherwise good tenant get back on track, the landlord can maintain steady income without the expense or delay to find a new renter.
Here’s a sample budget for one person living on Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI).
Rent: $450* Utilities: $80 Food: $200 Phone: $50 + Transportation: $25
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Financial experts recommend that rent or mortgage payments should consume no more than 30% of income. A household paying more than 30% income toward rent is “cost-burdened,” while more than 50% is “severely cost-burdened.”
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The typical price of a 1 bedroom or efficiency apartment in Cedar Rapids is $450. This leaves little cushion for food, utilities or medical expenses.
