In this era where prices are rising and it is difficult to make a living, the government plans to implement a youth monthly rent support project to reduce the housing costs of young people experiencing financial difficulties. A total of 2.4 million won will be paid over the course of one year, so do not miss the deadline and apply to receive great benefits.
1. Eligible for application for youth monthly rent support project
Age ranges from 19 to 39 years old.
There are no restrictions on residence.
Signing up for a subscription account is required, and the type is irrelevant.
Young independent households must have an income of 60% or less of the standard median income, and the original household must have an income of 100% or less of the standard median income.
Young independent households must have assets of KRW 122 million or less, and original households must have assets of KRW 470 million or less.
The monthly rental deposit must be less than 50 million won and the monthly rent must be less than 700,000 won.
2. How to apply
You can apply online or in person at the Administrative Welfare Center.
Before applying for monthly rent support for young people, we recommend that you first conduct a self-diagnosis service. (Refund action in case of illegal supply)
※ The website is scheduled to be launched, so we will guide you to the website soon.
3. Application period
It runs from February 26, 2024 to February 25, 2025.
4. Support details
Support amount: 200,000 won per person per month, up to 12 months (one time) of monthly rent. (Total 2.4 million won)
The maximum amount of monthly rent actually paid is 200,000 won. (Excluding rental deposit, management fee, etc.)
Payment date: Payment is made in cash on the 25th of every month. (If the payment date is a Saturday or a public holiday, payment will be made the day before.)
If you are a recipient of housing benefit, the housing benefit paid in the previous month (20th) will be deducted and paid.
5. Subjects subject to participation restrictions
In case of living with parents (those who are not separated from the original household)
Homeowner (including right of sale and right of occupancy)
If a house is rented within the second degree by a direct ascendant, brother, sister, etc.
Residents of public rental housing under the Special Act on Public Housing
In case of sublease where multiple people live in one room
Those who are beneficiaries of the national local government monthly rental project or the Ministry of Land, Infrastructure and Transport’s first monthly rental project (can apply after benefit ends)