New Rochelle, NY — Today, Congressman Jamaal Bowman, Ed.D. (NY-16) introduced the Fair Adjustments for Income-based Rental (FAIR) Costs Act, which will cap rent at 20% of a family’s income for families receiving federal rental assistance. The FAIR Costs Act would set a new standard to ensure that rent does not exceed 20% of a family’s monthly income if participating in federal rental assistance under Section 8 voucher and housing programs, Section 202 Housing for the Elderly, Section 811 Housing for Persons with Disabilities, or Section 521 USDA Rural Housing.
“Housing costs across the board are too damn high,” said Congressman Jamaal Bowman. “In the wake of the pandemic, corporate greed and price gouging have driven up prices of everything from groceries to rent to utilities. This is hitting our most vulnerable families the hardest, particularly Black and brown families who have already experienced redlining and historical disinvestment. People in my district are paying more than 40% or 50% of their income on their rent or mortgage. In the wealthiest nation on the planet, everyone should have access to safe, clean, and dignified housing. My FAIR Costs Act will take us one step closer to ensuring housing as a human right. I grew up in public housing and rent-controlled apartments here in New York. I know how affordable and secure housing can be transformational for families like mine and for all of our neighbors. From advocating for $1 million for the Bracey Apartments in New Rochelle to introducing the Affordable CO-OP Act to now introducing the FAIR Costs Act, I’m always fighting to make housing more affordable and sustainable for our community and Americans across the country.”
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“For too long, renters in supposedly affordable, subsidized housing have been living in poverty as the cost of groceries, healthcare, and other necessities skyrocket,” said Cea Weaver, Coalition Director at Housing Justice for All. “We are thrilled to see Congressman Bowman recognize what the tenants we work with day to day know first hand: 30% of your income in rent is far too much! The FAIR Costs Act is a key first step to safe, stable, affordable social housing for all.”
Representative Bonnie Watson Coleman is an original co-sponsor. The FAIR Costs Act is endorsed by Housing Justice for All, Desis Rising Up and Moving, New York Communities for Change, Mutual Housing Association of NY, Met Council on Housing, and Tenants & Neighbors.
Read the bill summary here.
Read the bill here.
