Thank you for the question.
No, it's certainly not free. We operate largely on a rent-geared-to-income basis.
You could debate whether we have a housing affordability issue in this country or an income issue in this country, but the reality is that 30% of someone's income is what we consider to be an affordable range. However, remember that we're serving the lowest-income earners in the country, so when I say 30% of income, I'm talking about $400 to $500 per month. This is the average rent we receive.
Historically, we always focused on providing housing to what we consider to be the lowest 20% of income earners in the city. That's true, I think, for most affordable housing providers across the country. Today, however, it's actually the bottom 40% to 50% of income earners who would theoretically qualify for subsidized housing such as we offer. Obviously, there's nowhere near enough supply to do that; it just doesn't meet the needs in the same way that it did historically.