Chapter 40B HousingIn Massachusetts
Chapter 40B Housing in Massachusetts
Here is a brief overview of Chapter 40B Housing in Massachusetts
In Massachusetts, as elsewhere in the country, low to moderate income individuals and families are being battered by the ever-increasing costs for fuel for cars and heat.
Food, healthcare and pharmaceutical costs also continue to rise which leaves very little left for decent affordable housing. Chapter 40B Housing in Massachusetts helps the growing number of the state’s residents who are living paycheck to paycheck to access affordable housing to buy or to rent.
There is a high demand for affordable rental and private home units. Chapter 40B is a fifty-year-old state statute which enables local zoning boards of appeals state-wide to approve affordable housing developments.
Chapter 40B Housing
The rules for developers are flexible if at least 20-25% of any proposed housing units remain affordable for the long-term. Older residents living on fixed incomes are enduring the constant fluctuations of the housing market.
They can hardly afford where they live. Many are being squeezed out of their communities by new development projects.
On the opposite end of the spectrum, college graduates with large student loan debt. They are also affected and are delaying marriage and having children.
Affordable housing programs such as Chapter 40B gives low to moderate income individuals and families hope. Are you or someone you know qualified for affordable home ownership or rental opportunities?
Contact us at Delphic Associates today and let’s talk about it!
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