Are my math skills OK? $40 million program, serving 1,000 families. That is $40,000 a family for two years of rent assistance. $20,000 per year. $1,666.67 per month. And this is supposed to be 30% of rent. So rent for a family is $5,555.55 a month? Am I the only one confused here? Are they saying low income families in New Jersey typically pay $3,888.89 a month in rent?
For $5,555.55 I could pay PITI on three nice houses and still have money left over. What am I missing?
Are my math skills OK? $40 million program, serving 1,000 families. That is $40,000 a family for two years of rent assistance. $20,000 per year. $1,666.67 per month. And this is supposed to be 30% of rent. So rent for a family is $5,555.55 a month? Am I the only one confused here? Are they saying low income families in New Jersey typically pay $3,888.89 a month in rent?
For $5,555.55 I could pay PITI on three nice houses and still have money left over. What am I missing?