There is a little known Government Program that was created to incentivize Developers to build Affordable Housing.

The program essentially pays the Developer to build apartments & they retain ownership of them.

Here's a {Thread} explaining the basics of how the Program works. Its not a secret that there is a shortage of affordable housing options in the US, especially in major cities.

The problem is Construction Costs are so high that building affordable housing usually isnt feasible

Also, why charge $500/month for rent when you could charge $1300?