Today, we will learn about how to apply for youth monthly rent support, application period, and conditions. Due to the sharp rise in housing prices in recent years, the burden of housing costs on young people is increasing. Accordingly, the government is taking steps to ease the burden of housing costs on young people through the Youth Rent Support Project.
This system, which supports monthly rent of up to 200,000 won and up to 2.4 million won, supports the rent actually paid by young people in monthly installments for up to 12 months. Please check the application method and apply quickly to receive the benefits.
Youth monthly rent support
We implemented a monthly rent support project to ease the burden of housing costs on young people who are experiencing financial difficulties due to various factors such as rapid real estate price increases and rising inflation. This project was implemented temporarily in 2023, and is scheduled to be implemented in 2024.
The membership criteria and application period will be confirmed later, but we will look at it as of 2023.
Support details
Once in a lifetime
Up to 200,000 won in monthly rent for one year, up to 12 months
Monthly cash payment to your account
Application period
Ongoing support until December 31, 2024
Application conditions
Age: 19 to 34 years old
Residence: Homeless youth living separately from their parents
Residential housing: deposit of 50 million won or less & monthly rent of 600,000 won or less
Income: Young independent household income is 60% or less of the standard median income and the original household income is 100% or less of the standard median income.
Assets: Young independent household assets are KRW 107 million or less and original household assets are KRW 380 million or less.
Subscribe to subscription
As the monthly rent support for young people was extended, new conditions that did not exist before were added. We announced the condition that only subscribers can apply for youth monthly rent support. You must have reported income in the previous year, sign up for subscription, and pay 50,000 to 100,000 won into your subscription account every month.
Selection criteria Exclusions
Housing benefit recipient
Youth housing project beneficiaries
Youth monthly rent subsidy beneficiaries
Beneficiaries of youth living stability funds
Beneficiaries of Youth Hope Growth Account
Beneficiaries of Youth Tomorrow Filling Credit
Youth Tomorrow Filling Deduction Borrower
Youth Tomorrow Filling Deduction Depositor
Youth Tomorrow Filling Deduction Deposit Borrower
Youth Tomorrow Filling Deduction Deposit Loan Repayer
Young independent households and original households
Independent youth households are households of young people living separately from their parents. This includes the young person, his/her spouse, and direct descendants (children) living with him/her. Original household refers to a young person’s independent household that includes the young person’s parents. Original household income is calculated by adding the parents’ income to the young person’s income.
Young independent household: young person + spouse + direct descendants (children) + other [Civil Act] family members residing at the same address
Original household: Young independent household + direct blood relatives (parents) within the first degree of consanguinity
Because youth rent support is a policy to support young people who have a high monthly rent burden, young people who do not receive housing funds from their parents are eligible for support. Therefore, the income of the original household is limited to prevent young people whose parents have sufficient assets from receiving subsidies.
Unit: Won 1-person household 2-person household 3-person household 4-person household 5-person household 6-person household 2024 1,337,0672,209,5652,828,7943,437,9484,017,4414,571,021
After you are selected for monthly rent support, the subsidy does not stop even if your monthly income increases due to employment or promotion.
original furniture
The original household refers to a household that includes the young person’s parents. The total income and assets of the young person and his/her parents must meet the criteria below. The total income of the original household must be less than 100% of the median income. Assets must be less than 380 million won.
(unit: won) 1-person household 2-person household 3-person household 4-person household 5-person household 6-person household 2023 2,077,8923,456,1554,434,8165,400,9646,330,6887,227,9812024 2,228 ,4453,682,6094,714,6575,729,9136,695,7357,618,369
However, if a young person is married, over 30 years old, single father/mother, or in his 20s and is recognized as having a different livelihood from his parents due to earning more than 50% of the median income, the income of the original household is not taken into consideration.
How to apply for monthly rent support for young people
Applications for youth monthly rent support can be made online on the Welfare Service website. Alternatively, you can apply by visiting the local community center in charge of your address. When applying as a proxy, you must visit the local community center in charge of the young person’s residential address to apply.
Apply online
You can easily apply on the Welfare website.
[Log in – Apply for service – Apply for welfare service – Apply for welfare benefits – Apply for temporary special support for monthly rent for young people]
Application forms and other forms are available online. You can enter the information of the young household and the original household, residence conditions, payment account, income and property report, pledge, etc. Supporting documents that require image attachment after scanning or shooting are as follows:
Youth monthly rent support application form
income and property report
Lease Agreement
Proof of monthly rent transfer for the past 3 months (account transfer details)
copy of bankbook
Family relationship certificate (details)
Please download and fill out the application documents below.
Youth monthly rent-limited time-special support-application-form download
customer service center
On the My Home portal, you can make a mock calculation to see if you meet the qualifications. If you are eligible for support, you can apply after checking through the mock calculation below.
Youth monthly rent special support call center: 1600-0777
Ministry of Land, Infrastructure and Transport: 1599-0001
My Home Portal
finish
Today, we learned about the application method and conditions for the Youth Rent Support Project. The youth monthly rent support project will be of practical help in that it is a cash grant. However, the support conditions were so strict that the actual execution rate of this project last year compared to the budget was only 14%.
However, the policy, which was intended to be operated temporarily, has been extended until 2024, so if you meet the conditions, please apply and receive the benefits.
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