Do you know about the 2024 Youth Monthly Rent Support Project? Anyone who feels burdened by monthly rent can save up to 200,000 won per month, or 2.4 million won per year, with the Youth Rent Subsidy, which must be applied for at all costs. Please check the eligibility requirements and application method below and apply now.
2024 Youth Monthly Rent Support
2024 Youth Monthly Rent Support
Youth monthly rent support target
Requirements for support
Young people between the ages of 19 and 34
*You can apply from January 1 to December 31 of the year you turn 19 to 34.
Residence Requirements Homeless people living separately from their parents
Deposit less than 50 million won, monthly rent less than 600,000 won
*Not available if monthly rent exceeds 50 million won
*If the monthly rent exceeds KRW 600,000, support is provided if the combined monthly rent converted amount of the monthly rent and deposit is KRW 700,000 or less.
Support is provided when the income and assets of the young household and the original household including the young person and his or her parents are met.
*Young households: 60% or less of standard median income (property value 107 million won or less)
*Original household: 100% or less of standard median income (property value 380 million won or less)
2024 Youth Monthly Rent Support
2024 Youth Monthly Rent Support
* If the age requirements are met at the time of application, 12 months’ worth of monthly rent will be supported even if you exceed the standard age after application.
* In the case of a young adult household, the spouse and children are included in the young adult household even if their addresses are different.
Other families must have the same address as the applicant to be considered a young household.
* When parents divorce, check the income of the original household, including all parents shown on the family relationship certificate, especially for young people.
Contents of monthly rent support for young people
1. Support amount: Up to 2.4 million won (up to 200,000 won per month)
* Housing benefit recipients also receive support by deducting the housing benefit amount from the monthly rent support limit of 200,000 won.
2. Support period: Up to 12 months (one time)
* Monthly rent support will be suspended if you join the military, stay abroad for more than 90 days, move in with your parents, or do not apply for change after moving out.
(Can also be stopped in the event of rent arrears, resident registration cancellation, unknown residence registration, death, or refusal of support)
* Temporary residence relocation to parents’ house during vacation can be supported for 12 months’ worth of monthly rent as long as it is within the enforcement period (22.11~24.12) even if the payment period is not continuous.
2024 Youth Monthly Rent Support
3. Exclusions
– homeowner
– Renting a house within the second degree of connection, such as a direct ascendant, brother, sister, etc.
– Living in public rental housing
– Living in a house with a deposit exceeding 50 million won
– If you have received or are receiving youth monthly rent support from the local government
How to apply for monthly rent support for young people
1. Apply online
You can apply online on the Welfare website. After logging in, select Apply for Welfare Benefits in the Welfare Service Application section, find Temporary Special Support for Youth Monthly Rent, and apply for Youth Monthly Rent Subsidy.
* Log in to Welfare → Apply for Service → Apply for Welfare Service → Apply for Welfare Benefits → Other → Temporary Special Support for Youth Monthly Rent
2024 Youth Monthly Rent Support
2. Application for visit
– Young people themselves can apply by visiting the Happiness Welfare Center in the jurisdiction of their address.
– If an agent (legal representative, member of the same household according to resident registration (excluding cohabitants), spouse, ascendant, or descendant not a member of the same household applies), a power of attorney and the agent’s identification card (resident registration card, driver’s license, passport, etc.), principal-agent relationship Certification documents are required.
※ Deposits cannot be deposited into a seizure prevention account, and if it is difficult to open an account in one’s name, the basic livelihood security system account management principles must be followed. If applying as a proxy, deposit money into the young person’s own account.
– Application documents
* Application for monthly rent support
* Lease agreement
* Documents proving monthly rent transfer: account transfer details, bankbook copy, receipt issued by landlord, etc.
* Copy of bankbook
* Detailed copy of family relationship certificate
* Income and property report