Answerpail Q&A - Recent questions and answers in Real Estate & Renting

Answered: Can you buy a house on SSI?

Thu, 11 Jun 2026 15:09:05 +0000

You can buy a house on SSI and SSDI.

The SSA or Social Security Administration excludes your primary residence and the land that it sits on from your countable resources, which means that owning a home or buying a home while on SSI or SSDI won't jeopardize your SSI or SSDI benefits.

SSI requires that you have no more than $2,000.00 in countable resources, or no more than $3,000.00 for couples to remain eligible for SSI.

When on SSI you can't save large amounts of cash, so you can't usually save up for a traditional down payment.

And lenders for mortgages also often require stable income to approve a mortgage.

And because SSI pays a maximum of $943.00 per month for a single person, relying solely on SSI makes it very difficult to qualify for a traditional mortgage.

But you may be able to get a home such as rent to own home when on SSI.

Lenders, do however accept SSI and SSDI as a reliable income source if you can prove that the SSI or SSDI payments will continue.

And programs like FHA loans allow for lower credit scores and a smaller down payment.

Or if you already have a Housing Choice Voucher, some PHAs or Public Housing Authorities allow you to use the voucher to pay your monthly mortgage instead of rent and you can also look into local grants for first time buyers, or check if you qualify for programs such as Habitat for Humanity, which builds affordable homes for people who are low income.

You can also rent a home or apartment while on SSI and SSDI and the SSI and SSDI does not have any specific limit on the allowance for monthly rent.

You can use your monthly SSI and SSDI payments for any amount of rent that you need and any other expenses.

Although SSI and SSDI do use specific rules if someone else is subsidizing your monthly rent, like charging you less than the market value for rent.

The maximum Federal SSI benefit is $994.00 per month, which you can use legally for all your rent and utilities, food and basic needs.

Although if you happen to live in an arrangement where someone else such as a friend, relative or parent helps you pay your rent or charges you rent that is below market rent, then the SSA or Social Security Administration might count it as "in kind support and maintenance" or ISM.

Social Security also sets a cap that is known as the Presumed Maximum value or PMV, which is currently $351.33 per month.

And as long as you pay at least $351.33 in rent, the Social Security Administration won't count the discounted rent as income and your SSI payments won't be reduced for housing support.

Although if you're paying less than $351.33 per month in rent, then the SSA might consider that discount in rent as "in kind income" and reduce your maximum monthly SSI payments.

Your SSI will sometimes increase if you start paying rent, especially if your current SSI payment is reduced because you live in someone else's household for free.

Paying the rent can remove the "in Kind Support and Maintenance" ISM reduction, that can increase your monthly SSI benefit by up to one third.

If you get SSI and live with others, paying your fair share or at least $351.33 per month, which is known as the presumed maximum value, it helps ensure that you get the maximum SSI payment.

If you live with any family or friends and you pay no rent, then the Social Security Administration or SSA reduces your monthly SSI payment because they assume that you get free shelter.

And paying rent, shows that you're not receiving the "in Kind" support.

You should report your new rental agreement and expenses to the SSA immediately to update your living arrangements.

And you will also need to provide proof of renting, like a lease, rent receipts or a statement from your landlord that shows what you pay.

However if you already get the maximum federal benefit, then paying rent won't increase your SSI payments any further.

You can get SSI even if you don't pay rent.

SSI is not just for people who pay rent, as people who own their homes or even live with others can get SSI payments, if they qualify for the SSI payments.

Although if you live with someone else and don't pay rent, then the SSA considers the free shelter as "in kind support and maintenance"

And so in this case, the SSA may reduce your maximum monthly SSI payment by at least one third.

The highest amount of rent assistance that you can get is often between $1,000.00 to $1,500.00 per month, especially for ESG or Emergency Solutions Grants.

Although there's no actual fixed maximum dollar amount of rent assistance that you can get when it comes to long term rent assistance.

Instead, for long term rent assistance, it's often structured so that you will only pay a percentage of your income, which is often 30 percent of your income toward rent.

While the rental assistance program pays the remaining balance of the rental payments for your rent and up to a localized cap.

For Section 8, housing choice vouchers, your local public housing authority or PHA will calculate a "Total Tenant Payment" which is often 30 percent of your adjusted monthly income.

Then they pay the balance that remains directly to your landlord for your rent.

The PHA or Public Housing Authority also determines a local Payment Standard that varies by your bedroom size and your zip code.

This Payment Standard is also the highest amount that the agency can pay towards your monthly rent.

And if you choose an apartment that costs more than the payment standard, then you will be responsible for making up the difference in the rent cost.

And your family cannot ever exceed 40 percent of your income upon the initial move in.

For ESG or Emergency Solutions Grants, if you're homeless or you're facing eviction, you can also receive short term rental assistance, security deposits or even rapid re-housing funds.

And because the ESG or Emergency Solutions Grants, funds are managed locally by DHS approved providers in your state, the caps are also strict.

Local programs for example, often will limit the rental assistance to a maximum of $1,000.00 to $1,500.00 a month or even may impose a specific month limit like maximum of 3 months, depending on immediate need and available funds.

Answered: How much does SSI allow for rent?

Thu, 11 Jun 2026 14:49:52 +0000

SSI and SSDI does not have any specific limit on the allowance for monthly rent.

You can use your monthly SSI and SSDI payments for any amount of rent that you need and any other expenses.

Although SSI and SSDI do use specific rules if someone else is subsidizing your monthly rent, like charging you less than the market value for rent.

The maximum Federal SSI benefit is $994.00 per month, which you can use legally for all your rent and utilities, food and basic needs.

Although if you happen to live in an arrangement where someone else such as a friend, relative or parent helps you pay your rent or charges you rent that is below market rent, then the SSA or Social Security Administration might count it as "in kind support and maintenance" or ISM.

Social Security also sets a cap that is known as the Presumed Maximum value or PMV, which is currently $351.33 per month.

And as long as you pay at least $351.33 in rent, the Social Security Administration won't count the discounted rent as income and your SSI payments won't be reduced for housing support.

Although if you're paying less than $351.33 per month in rent, then the SSA might consider that discount in rent as "in kind income" and reduce your maximum monthly SSI payments.

Your SSI will sometimes increase if you start paying rent, especially if your current SSI payment is reduced because you live in someone else's household for free.

Paying the rent can remove the "in Kind Support and Maintenance" ISM reduction, that can increase your monthly SSI benefit by up to one third.

If you get SSI and live with others, paying your fair share or at least $351.33 per month, which is known as the presumed maximum value, it helps ensure that you get the maximum SSI payment.

If you live with any family or friends and you pay no rent, then the Social Security Administration or SSA reduces your monthly SSI payment because they assume that you get free shelter.

And paying rent, shows that you're not receiving the "in Kind" support.

You should report your new rental agreement and expenses to the SSA immediately to update your living arrangements.

And you will also need to provide proof of renting, like a lease, rent receipts or a statement from your landlord that shows what you pay.

However if you already get the maximum federal benefit, then paying rent won't increase your SSI payments any further.

You can get SSI even if you don't pay rent.

SSI is not just for people who pay rent, as people who own their homes or even live with others can get SSI payments, if they qualify for the SSI payments.

Although if you live with someone else and don't pay rent, then the SSA considers the free shelter as "in kind support and maintenance"

And so in this case, the SSA may reduce your maximum monthly SSI payment by at least one third.

The highest amount of rent assistance that you can get is often between $1,000.00 to $1,500.00 per month, especially for ESG or Emergency Solutions Grants.

Although there's no actual fixed maximum dollar amount of rent assistance that you can get when it comes to long term rent assistance.

Instead, for long term rent assistance, it's often structured so that you will only pay a percentage of your income, which is often 30 percent of your income toward rent.

While the rental assistance program pays the remaining balance of the rental payments for your rent and up to a localized cap.

For Section 8, housing choice vouchers, your local public housing authority or PHA will calculate a "Total Tenant Payment" which is often 30 percent of your adjusted monthly income.

Then they pay the balance that remains directly to your landlord for your rent.

The PHA or Public Housing Authority also determines a local Payment Standard that varies by your bedroom size and your zip code.

This Payment Standard is also the highest amount that the agency can pay towards your monthly rent.

And if you choose an apartment that costs more than the payment standard, then you will be responsible for making up the difference in the rent cost.

And your family cannot ever exceed 40 percent of your income upon the initial move in.

For ESG or Emergency Solutions Grants, if you're homeless or you're facing eviction, you can also receive short term rental assistance, security deposits or even rapid re-housing funds.

And because the ESG or Emergency Solutions Grants, funds are managed locally by DHS approved providers in your state, the caps are also strict.

Local programs for example, often will limit the rental assistance to a maximum of $1,000.00 to $1,500.00 a month or even may impose a specific month limit like maximum of 3 months, depending on immediate need and available funds.

Answered: Will my SSI increase if I pay rent?

Mon, 18 May 2026 22:32:34 +0000

Your SSI will sometimes increase if you start paying rent, especially if your current SSI payment is reduced because you live in someone else's household for free.

Paying the rent can remove the "in Kind Support and Maintenance" ISM reduction, that can increase your monthly SSI benefit by up to one third.

If you get SSI and live with others, paying your fair share or at least $351.33 per month, which is known as the presumed maximum value, it helps ensure that you get the maximum SSI payment.

If you live with any family or friends and you pay no rent, then the Social Security Administration or SSA reduces your monthly SSI payment because they assume that you get free shelter.

And paying rent, shows that you're not receiving the "in Kind" support.

You should report your new rental agreement and expenses to the SSA immediately to update your living arrangements.

And you will also need to provide proof of renting, like a lease, rent receipts or a statement from your landlord that shows what you pay.

However if you already get the maximum federal benefit, then paying rent won't increase your SSI payments any further.

You can get SSI even if you don't pay rent.

SSI is not just for people who pay rent, as people who own their homes or even live with others can get SSI payments, if they qualify for the SSI payments.

Although if you live with someone else and don't pay rent, then the SSA considers the free shelter as "in kind support and maintenance"

And so in this case, the SSA may reduce your maximum monthly SSI payment by at least one third.

The highest amount of rent assistance that you can get is often between $1,000.00 to $1,500.00 per month, especially for ESG or Emergency Solutions Grants.

Although there's no actual fixed maximum dollar amount of rent assistance that you can get when it comes to long term rent assistance.

Instead, for long term rent assistance, it's often structured so that you will only pay a percentage of your income, which is often 30 percent of your income toward rent.

While the rental assistance program pays the remaining balance of the rental payments for your rent and up to a localized cap.

For Section 8, housing choice vouchers, your local public housing authority or PHA will calculate a "Total Tenant Payment" which is often 30 percent of your adjusted monthly income.

Then they pay the balance that remains directly to your landlord for your rent.

The PHA or Public Housing Authority also determines a local Payment Standard that varies by your bedroom size and your zip code.

This Payment Standard is also the highest amount that the agency can pay towards your monthly rent.

And if you choose an apartment that costs more than the payment standard, then you will be responsible for making up the difference in the rent cost.

And your family cannot ever exceed 40 percent of your income upon the initial move in.

For ESG or Emergency Solutions Grants, if you're homeless or you're facing eviction, you can also receive short term rental assistance, security deposits or even rapid re-housing funds.

And because the ESG or Emergency Solutions Grants, funds are managed locally by DHS approved providers in your state, the caps are also strict.

Local programs for example, often will limit the rental assistance to a maximum of $1,000.00 to $1,500.00 a month or even may impose a specific month limit like maximum of 3 months, depending on immediate need and available funds.

Answered: Can I get SSI if I don't pay rent?

Mon, 18 May 2026 22:27:06 +0000

You can get SSI even if you don't pay rent.

SSI is not just for people who pay rent, as people who own their homes or even live with others can get SSI payments, if they qualify for the SSI payments.

Although if you live with someone else and don't pay rent, then the SSA considers the free shelter as "in kind support and maintenance"

And so in this case, the SSA may reduce your maximum monthly SSI payment by at least one third.

The highest amount of rent assistance that you can get is often between $1,000.00 to $1,500.00 per month, especially for ESG or Emergency Solutions Grants.

Although there's no actual fixed maximum dollar amount of rent assistance that you can get when it comes to long term rent assistance.

Instead, for long term rent assistance, it's often structured so that you will only pay a percentage of your income, which is often 30 percent of your income toward rent.

While the rental assistance program pays the remaining balance of the rental payments for your rent and up to a localized cap.

For Section 8, housing choice vouchers, your local public housing authority or PHA will calculate a "Total Tenant Payment" which is often 30 percent of your adjusted monthly income.

Then they pay the balance that remains directly to your landlord for your rent.

The PHA or Public Housing Authority also determines a local Payment Standard that varies by your bedroom size and your zip code.

This Payment Standard is also the highest amount that the agency can pay towards your monthly rent.

And if you choose an apartment that costs more than the payment standard, then you will be responsible for making up the difference in the rent cost.

And your family cannot ever exceed 40 percent of your income upon the initial move in.

For ESG or Emergency Solutions Grants, if you're homeless or you're facing eviction, you can also receive short term rental assistance, security deposits or even rapid re-housing funds.

And because the ESG or Emergency Solutions Grants, funds are managed locally by DHS approved providers in your state, the caps are also strict.

Local programs for example, often will limit the rental assistance to a maximum of $1,000.00 to $1,500.00 a month or even may impose a specific month limit like maximum of 3 months, depending on immediate need and available funds.

Answered: What is the highest amount of rent assistance you can get?

Mon, 18 May 2026 17:30:17 +0000

The highest amount of rent assistance that you can get is often between $1,000.00 to $1,500.00 per month, especially for ESG or Emergency Solutions Grants.

Although there's no actual fixed maximum dollar amount of rent assistance that you can get when it comes to long term rent assistance.

Instead, for long term rent assistance, it's often structured so that you will only pay a percentage of your income, which is often 30 percent of your income toward rent.

While the rental assistance program pays the remaining balance of the rental payments for your rent and up to a localized cap.

For Section 8, housing choice vouchers, your local public housing authority or PHA will calculate a "Total Tenant Payment" which is often 30 percent of your adjusted monthly income.

Then they pay the balance that remains directly to your landlord for your rent.

The PHA or Public Housing Authority also determines a local Payment Standard that varies by your bedroom size and your zip code.

This Payment Standard is also the highest amount that the agency can pay towards your monthly rent.

And if you choose an apartment that costs more than the payment standard, then you will be responsible for making up the difference in the rent cost.

And your family cannot ever exceed 40 percent of your income upon the initial move in.

For ESG or Emergency Solutions Grants, if you're homeless or you're facing eviction, you can also receive short term rental assistance, security deposits or even rapid re-housing funds.

And because the ESG or Emergency Solutions Grants, funds are managed locally by DHS approved providers in your state, the caps are also strict.

Local programs for example, often will limit the rental assistance to a maximum of $1,000.00 to $1,500.00 a month or even may impose a specific month limit like maximum of 3 months, depending on immediate need and available funds.

Answered: Where is the cheapest place to live in Massachusetts for a family?

Sun, 17 May 2026 18:13:24 +0000

The cheapest place to live in Massachusetts for a family is North Adams Massachusetts.

Median home prices in North Adams Massachusetts average around $245,000.00 to $250,000.00.

Average monthly rent prices in North Adams Massachusetts is around $1,000.00 to $1,350.00 per month.

North Adamas Massachusetts is located in the beautiful Berkshire Mountains and is ideal for families that love hiking and arts and is home to the MASS MoCA.

Other cheapest places to live in Massachusetts for a family include Springfield, Massachusetts, Fitchburg, Massachusetts, Pittsfield, Massachusetts and Chicopee and Holyoke.

Chicopee and Holyoke, Massachusetts are located in the Pioneer Valley and near Springfield.

And both cities of Chicopee and Holyoke, Massachusetts offer median home prices that are well below $300,000.00 and they are also packed with local parks, family friendly events and even community pools.

Pittsfield, Massachusetts, is located in Berkshire's and is a city that features housing that is incredibly affordable.

Median home prices in Pittsfield, Massachusetts are around $250,000.00 and they have a strong community.

Pittsfield, Massachusetts is excellent for families that are looking for cheap real estate without sacrificing good access to healthcare, shopping and outdoor activities.

Fitchburg, Massachusetts, is located roughly 90 minutes from Boston, Massachusetts in Central Massachusetts.

The median home prices in Fitchburg, Massachusetts range from $300,000.00 to $350,000.00 and offers a suburban family vibe as well as local parks and commuter rail access to Boston, Massachusetts.

Springfield, Massachusetts is known for it's cultural and economic hub of Western Massachusetts.

Median home prices in Springfield, Massachusetts are around $250,000.00 to $275,000.00 and it offers a larger city feel with family attractions like museums, Zoo in Forest park and variety of public schooling options.

Answered: Is it cheaper to live in MA or FL?

Sun, 17 May 2026 17:58:28 +0000

It's cheaper to live in FL than it is to live in MA.

Florida is 11.3 percent cheaper to live in than MA or Massachusetts.

The living expenses and childcare, entertainment, sports, housing, transportation, groceries and even cost of dining out in FL is cheaper in FL than MA.

The cost of living between Florida and Massachusetts, swings in favor of Florida.

While the housing prices can vary significantly, the state of Florida is often more affordable in the average cost of living.

For example, the median home price in Florida is only around $329,000.00 and in MA or Massachusetts the median home price is over $623,000.00.

MA is a good place to live, but Florida is much cheaper to live than MA.

Even living in Florida on $3,000.00 a month or $36,000.00 a year, is possible as a single person, but it requires strategic budgeting and avoiding major tourist hubs.

To make this work, your housing costs must remain under $1,000.00 to $1,200.00 per month.

Housing will be your largest expense and so you will need to target lower cost of living areas, instead of major metro areas.

Look into northern and central inland cities of Florida for cheaper living costs, like Panama City, Pensacola, Lakeland Florida or even Ocala Florida as these areas of Florida offer average one bedroom rents and living costs, which easily fall under your threshold.

Avoid the metros for lower cost of living as places like Orlando Florida, Tampa Florida, Fort Lauderdale and Miami Florida will eat up 45 percent or more of your income on rent alone.

In Massachusetts, per Census estimates, 182,947 residents moved out of state.

The largest portion, about 66,000 residents of MA, moved to a foreign country.

In addition, the top states residents of MA moved to were California, New Hampshire, New York, and Rhode Island.

Answered: What is the 3 3 3 rule in real estate?

Sun, 17 May 2026 17:44:00 +0000

The 3 3 3 rule in real estate is a financial checklist that is used to ensure that a buyer of real estate is financially and strategically ready to purchase a property.

When it comes to the 3-3-3 rule in real estate it states that the buyer of real estate should.

Save 3 months of living expenses, by maintaining a robust emergency fund in case of job loss or any unexpected emergencies.

Keep 3 months of mortgage reserves, by having cash set aside specifically to cover your mortgage payments for at least 3 months.

Compare 3 properties, by researching and evaluating at least 3 similar properties before you make an offer to avoid overpaying.

There's also another alternative "Rule of 3" in real estate.

The Rule of 3 is also known as the 30/30/3 rule and is often used for affordability, and the rule states that you should spend no more than 30 percent of your gross income on housing and have 30 percent of the home's value saved for a down payment and reserves and keep the total purchase price under 3x your annual income.

There's also the 3 year rule for selling, where some professionals suggest that you should plan to own a home for at least 3 years before you sell the home to ensure that you build up enough equity to cover the buying and selling costs.

And even the 3 year rule for evaluating, which is used by investors, and means that you should look past price trends in the locality for 3 years, checking the upcoming infrastructure for the next 3 years and compare it against 3 similar properties that are nearby.

Answered: Are reverse mortgages a good idea?

Sat, 16 May 2026 18:40:17 +0000

Reverse mortgages are a good idea if you have nobody to leave the home too when you die and you need some cash right now.

However if you have kids or others that you plan to leave the home too, then reverse mortgages are a bad idea, as the loan for the reverse mortgage has to be paid back if you leave the home or die.

If you leave the home to your kids or heirs then they would have to sell the home or pay back the reverse mortgage.

The way reverse mortgages on your home work is that as long as you're a homeowner and are 62 years of age or older, it allows you to get cash from your home equity without making monthly mortgage payments to the bank.

Instead of you as a borrower paying the bank, when you take out a reverse mortgage on your home, the lender or bank pays you instead.

The reverse mortgage loan is then paid back when you either pass away, sell the home or move.

If you die and have not paid back the loan for the reverse mortgage, then the bank takes the home and sells it to recover the payments.

Basically the bank is buying back the home from you through a reverse mortgage.

In the case of a regular mortgage, the bank pays for the cost of the home and you pay the bank back with interest and then eventually own the home, once the mortgage is paid off.

In the case of a reverse mortgage, the bank is paying you for the home through payments and if you pay back the reverse mortgage you can keep the home.

However if you don't pay back the reverse mortgage then the home eventually becomes the banks or lenders, when you pass away.

But if you sell the home and then use proceeds of the sale to pay the bank back then you don't lose the home to the bank.

Basically unlike a traditional mortgage, where you pay down the balance of the mortgage to the bank, a reverse mortgage works in reverse by increasing your loan over time.

When you take out a reverse mortgage on your home, you get the money based on home's equity, age and the current interest rates, which can be distributed as a lump sum or in monthly payments or through a line of credit.

And because you're not making any monthly payments on the reverse mortgage, the interest and fees are added to the loan balance each month and as your balance grows, your home equity also decreases.

However you're not forced to pay back the loan for the reverse mortgage as long as you live in the home.

But when you sell the home, move out or you die, the loan for the reverse mortgage becomes due and the home is often sold off to pay off the balance and you or your heirs keep any remaining equity.

If you want to leave the home to your children or heirs, it's best to avoid a reverse mortgage.

But if you have nobody to leave the home too, a reverse mortgage can be a good idea as the bank will take care of the house and sell it after you die.

Answered: How do reverse mortgages on your home work?

Sat, 16 May 2026 18:38:12 +0000