Special support for monthly rent for young people is implemented nationwide, so young people can receive support related to the area where they live, and support is provided to young people with low income so that it can help them manage their lives, including studying and preparing for employment, even in difficult economic conditions. Please keep this in mind when applying.
Youth monthly rent press release
Ministry of Land, Infrastructure and Transport
◀ (Support Target) Ages 19 to 34, low-income independent youth
◀ (Support amount) 12 months’ worth of monthly rent support of up to 200,000 won per month
◀ (Income requirements) 60% or less of median income for youth households & 100% or less of median income for original household (parents + youth)
1. Support target/requirements
– Young people aged 19 to 34 can apply and receive support from January 1 of the year they turn 19 to 34.
– If you are a homeless person living separately from your parents and live in a house with a deposit of 50 million won or less and a monthly rent of 600,000 won or less, and your deposit exceeds 50 million won, you cannot receive monthly rent support. However, if your monthly rent exceeds 600,000 won, you cannot receive monthly rent support. Support is provided until the total amount of the deposit converted into monthly rent is less than 700,000 won.
For example, if you live in a house with a deposit of 20 million won and a monthly rent of 650,000 won, the deposit converted into monthly rent (20 million won × 2.5% ÷ 12 months = 40,000 won)
You can apply because the total monthly rent is about 690,000 won.
– The income and assets of the original household, including the young person and his or her parents, must meet certain standards to receive monthly rent support.
To welfare
Income requirements are as follows:
Category Youth Household Original Household
Below 60% of median income based on income assessment
(1.17 million won/month for a single-person household) Below 100% of median income
(4.19 million won/month for a 3-person household)
Property value: 107 million won or less 380 million won or less
※ Youth household: refers to the young person, his or her spouse, and children. If parents, siblings, etc. live together, the relevant family is also included in the young person’s household, and the original household includes only the young person’s household and parents.
Classification 1-person household 2-person household 3-person household 4-person household 5-person household
Median income 100% 2,228,445 3,682,609 4,714,657 5,729,913 6,695,735
Median income 60% 1,337,067 2,209,565 2,828,794 3,437,948 4,017,441
house
2. Application and payment
– Young people who want to apply for special monthly rent support for young people should conduct a self-diagnosis on My Home Portal (www.myhome.go.kr) or Bokjiro website (www.bokjiro.go.kr) to see if they can receive special monthly rent support for young people. It is convenient to be able to check in advance.
– For more information, please contact Korea Land and Housing Corporation at ☎1600 – 0777.
– Within the range of actual monthly rent paid, 200,000 won per month will be deposited into your account in cash, up to a maximum of 2.4 million won per year.
– Documents to be submitted
Application for monthly rental support, confirmation of monthly rental support for young people, income and property report, copy of resident registration, family relationship certificate, monthly rent transfer document, rental agreement
My Home Portal
-The processing procedures are as follows.
We have looked into the youth monthly rent subsidy. If you are eligible, please apply and receive the benefits.