What is a Low-income Property?
Owning a low-income property is definitely better than renting, however, it is not as good as owning a regular property. Cities put caps on how much income properties can appreciate and how much they can sell for so your appreciation gains are not as high as normal. These artificially lowered prices also make them easier to buy. The buyers of low-income properties also need to fit city-specific qualifications of income to be eligible to purchase. These homes tend to need to be owner-occupied as well to make sure investors don't buy them as rental properties. All in all, they waste less money than rent and help build equity and wealth, even if not to the extent of other non-low-income properties.