Rent Rates For Social Housing
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FAQ
Monthly rent is based on a percentage of household income (rent-geared-to-income (RGI)). Total monthly payable rent includes your rent plus other applicable fees such as parking or tenant services. The social housing rent-geared-to-income (RGI) rate is 30 per cent of household income for new tenant leases.
Residents are selected from a Centralized Housing Registry, maintained by BC Housing, and rent is calculated based on 30% of their gross monthly income.
Try the 30% rule. One popular rule of thumb is the 30% rule, which says to spend around 30% of your gross income on rent. So if you earn $3,200 per month before taxes, you should spend about $960 per month on rent. This is a solid guideline, but it's not one-size-fits-all advice.
The weekly Differential Rent is calculated based on 10% of the total household aggregated assessable income plus ?3 (three euro). A minimum weekly rent of ?25 (twenty-five euro) will generally apply to all tenancies in respect of rented dwellings.
The amount of rent paid by Council tenants is determined by Cork County Council's Differential Rent Scheme (pdf). Rents are calculated based on total household income in a manner that ensures that the amount you are charged is reasonable and does not lead to undue financial difficulties.