Youth monthly rent support is a monthly rent support policy to stabilize housing costs for young people.
If you meet a few conditions, you can receive support of up to 200,000 won per month for one year.
After the support ends in 2023, the support is being extended in 2024, so hurry up and apply and receive the benefits of the youth monthly rent subsidy.
2024 Youth Monthly Rent Subsidy
The 2024 Youth Rent Support provides monthly rent support of up to 200,000 won per month for 12 months to low-income youth.
The project, which ended last year in August 2023, has had its budget increased and is accepting applications until 2024.
However, please note that since this is limited to once in a lifetime, you will not be able to apply if you received support last time or if a duplicate project is in progress in the future.
Support amount
Monthly rent support is up to 200,000 won, and if the actual rent is less, only the amount of rent is paid.
However, deposit and management fees are excluded.
For example, the monthly rent is 150,000 won, but even if the management fee exceeds 200,000 won, the amount paid is 150,000 won, which is the monthly rent standard.
Additionally, if you are a recipient of housing benefits, you can receive support for the remaining amount after paying housing benefits up to 200,000 won.
For example, if you are receiving 160,000 won in housing benefits, you will receive monthly rent support of 40,000 won, which is the remaining amount up to the 200,000 won limit.
payment date
Monthly rent is provided in cash to the young person’s account.
Payment is made on the 25th of every month, and if the 25th is a Saturday or public holiday, payment is made on the previous day, the 24th.
If you are a dormitory student, the supply period is not continuous due to vacations, etc., so you can receive support in installments for 12 months, rather than one year in a row.
Supported by
age
Any youth between the ages of 19 and 34 who does not own a home can apply.
Full age is based on birth year, not birthday, and includes those born between 1989 and 2005 as of 2024.
There are no restrictions on the employment status of young people, so even college students or job seekers can apply.
Also, you can apply even if you exceed the age requirement after applying.
income and wealth
Income assessment = Earned income + Business income + Property income + Public transfer income – Earned business income deduction (30%)
Property valuation = General property value + Car value – Debt (recognized for residential use only)
Among assets, only debts for the purpose of raising a rental deposit are recognized.
youth furniture
Youth households refer to households of independent young people.
If you are married and have children, your spouse and children are included in the young adult household.
Additionally, under civil law, a family is considered a young person’s household if it has the same address as the applicant.
For example, if the father lives in the original home but lives with the mother and siblings, the youth household includes the mother and siblings, and the father is included in the original household.
The income of young households must be less than 60% of the median income, and the wealth standard must be less than 107 million won.
Unit: Won 1-person household 2-person household 3-person household 4-person household 5-person household 6-person household
Median income 60% in 2024
2024 1,337,067 2,209,565 2,828,794 3,437,948 4,017,441 4,571,021
After you are selected for monthly rent support, the subsidy does not stop even if your monthly income increases due to employment or promotion.
Additionally, you must be a homeless youth.
original furniture
The original household refers to a household that includes the young person’s parents.
In other words, the total income and assets of the young person and his or her parents must meet the criteria below.
The total income of the original household must be less than 100% of the median income. Additionally, 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 2024 Median Income 100%
2023 2,077,892 3,456,155 4,434,816 5,400,964 6,330,688 7,227,981
2024 2,228,445 3,682,609 4,714,657 5,729,913 6,695,735 7,618,369
However, because young households over the age of 30 are considered independent from their parents, the income and assets of the original household are not taken into consideration.
Even if you are a young person in your 20s, if you are married or earn more than 50% of the median income, you are recognized as an independent household even if you are not married.
Therefore, even in these cases, it does not reflect the income and assets of the original household.
Divorced young people are also recognized as individual households and do not reflect the income and assets of the original household.
Monthly rent contract terms
A young person can apply as long as she is independent from her parents and has signed a lease with a deposit of 50 million won or less and a monthly rent of 600,000 won or less.
However, even if the monthly rent exceeds 600,000 won, you can receive support if the monthly rent is less than 700,000 won by applying the monthly rent conversion rate of 2.5% of the deposit.
However, we do not support cases where the deposit exceeds 50 million won.
For example, if the deposit is 10 million won and the monthly rent is 650,000 won, it is as follows.
10 million won x 2.5% ÷ 12 months = approximately 20,000 won
Therefore, if the deposit is converted into monthly rent, the total monthly rent is approximately 670,000 won, and since this amount is less than 700,000 won, it meets the condition.
However, global contracts are not supported. You can apply if you live in a semi-rental, dormitory, or boarding house.
Proof of monthly rent transfer requires 3 months of records. If you have just moved in, you will need at least one month’s rent transfer history.
In principle, a rental contract must be signed in the young person’s name, but if the contract is signed in the name of a blood relative within the second degree of kinship, monthly rent support can be received by proving the young person’s residency (moving-in report, monthly rent payment, etc.).
Therefore, if you submit the monthly rent transfer details and the young person has reported moving in, you can apply.
Subscribe to subscription
As the monthly rent support for young people was extended, new conditions that did not exist before were added.
On December 26, 2023, the government announced the condition that only subscribers can apply for youth monthly rent support.
In this case, the condition of being a subscription subscriber is added, so you must have reported income in the previous year, subscribe to the subscription, and pay 50,000 to 100,000 won every month into the subscription account.
Excluding support
If you live with your parents
When renting the house of a blood relative within the second degree, such as a direct ascendant, brother, or sister
If you live in public rental housing
If you are receiving support for a local government overlapping project
In case of sublease with multiple people living in one room
However, you can apply if you live in a share house, etc. and submit a confirmation of occupancy and a (rental) business registration certificate.
Additionally, rental deposit loans or interest burden support projects do not fall under duplicate projects.
Application period
The special temporary support for monthly rent for young people, which was accepted for a limited time from August 2022 to August 23, can now be applied for until 2024 as the budget has been increased.
August 22, 2024 – December 2024
The application period for special temporary support for monthly rent for young people is until December 2024, but applications may close within the period depending on the budget, so please hurry.
As of January 2024, applications are not yet available due to the budget preparation period following the application deadline. We will revise it again when applications resume in the future.
It is expected that applications will be available starting February 26, 2024.
How to apply
You can apply for the Youth Rent Subsidy by visiting a community center or online.
We recommend applying online rather than visiting a community center because it is simpler and the required documents are simpler.
Apply for visit
Young people can apply by visiting the community center where they live.
Application documents are as follows: In addition to this, additional documents may be required.
Application for monthly rent support
Income and Asset Declarations
pledge
lease agreement
Proof of monthly rent transfer
copy of bankbook
Family relationship certificate (details)
Lease agreement for parents’ house (if parents do not own their house)
(When applying as an agent) Power of attorney, agent ID card, and documents proving agent relationship
Apply online
You can easily apply through 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:
lease agreement
Copy of bankbook
Proof of monthly rent payment for the past 3 months
Family relationship certificate of youth and parents, etc.
Apply for youth monthly rent support
Once the application is completed, the city, county, or district will complete the investigation and notify you of the support decision within 45 days of receipt.
Contact us
You can do a mock calculation to see if you meet the qualifications through My Home Portal.
If you are a young person who qualifies for support, you can apply after checking through the mock calculation below.
Mock calculation for youth monthly rent support
Youth monthly rent special support call center 1600-0777
Ministry of Land, Infrastructure and Transport 1599-0001
My Home Portal