Unusual Ways Your Job Can Save You Money on Housing
Written by
Laura Beck
Edited by
Molly Sullivan
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Your job does way more than just pay the bills. In fact, it might actually help you pay for those bills in ways you never realized. While most people think about salary and health insurance when job hunting, tons of companies are quietly offering housing perks that could save you thousands every year.
Whether you’re buying your first home, struggling with sky-high rent or trying to make remote work actually, well, work, your employer might be sitting on benefits that could slash your housing costs. Here’s the scoop on how your job can become your secret weapon in the housing game.
The Numbers That’ll Blow Your Mind
Before you think this is all just wishful thinking, let’s talk real numbers. About 25% of companies are exploring housing help as a workplace perk, and they’re talking serious money: Roughly $6,000 per worker annually, on average. In many locations, that’s enough cash to handle one-quarter of your yearly rent.
Workers are absolutely here for it too. About 1 in 4 say they’d jump ship for housing help, and get this, nearly one-third would take housing perks over more money in their paychecks. Almost half would pick housing benefits over extra vacation days. Only about 1 in 8 workers currently gets housing help from their employer, so there’s massive room for growth here.
Down Payment Assistance Programs That Actually Exist
Here’s the great news: Some companies are literally helping employees buy houses with cold, hard cash. Employer-assisted housing programs provide assistance through down payment grants or loans that are forgiven over a period of employment. That’s basically free money if you stick around long enough.
For example, the Live Near Your Work program in Baltimore is a partnership between the city and participating companies where the city matches employer contributions of at least $1,000 per employee, up to $2,500, for a combined total of $5,000 in assistance. Imagine getting $5,000 just for working somewhere that partnered with the city. That’s a game-changer.
Remote Work Stipends That Cover Way More Than You Think
Here’s where things get really interesting. Remote work stipends aren’t just about buying a desk and chair; some companies are getting super generous with what they’ll cover.
Some companies are offering a remote work stipend, and others are giving home office stipends. And still others provide a work-from-home stipend plus monthly wellness and food allowances.
There’s also the concept of “Flex Wallets” for lifestyle and home expenses. Some employers are even covering costs for coworking space memberships when you need a change of scenery.
The newest trend? Companies are starting to offer yearly stipends for employees making eco-friendly home improvements like adding insulation, installing solar panels or upgrading to energy-efficient appliances. It’s like getting paid to make your home more sustainable while reducing your utility bills.
Government Jobs With Serious Housing Perks
Public sector jobs often come with housing benefits that private companies can’t match. The District of Columbia’s Employer-Assisted Housing Program offers eligible government employees a deferred, 0% interest loan and a matching funds grant for down payment and closing costs, with no income cap for applicants.
New York City’s Department of Education provides housing support to teachers, with selected teachers receiving an initial payment of $5,000 for housing-related expenses including relocation costs, down payment or rental fees, plus an additional $400 monthly stipend over two years.
For teachers specifically, this is huge. You’re looking at potentially $14,600 total just for doing what you already do.
Industries Leading the Charge
While any company might offer housing benefits, some industries are totally crushing it in this department. Tech companies, marketing firms and finance businesses are way out front when it comes to housing help programs. But don’t overlook other fields like education, healthcare, insurance and science companies. They have solid reputations for generous benefit packages that might include housing perks.
How To Actually Get These Benefits
So how do you tap into these goldmines? Start by digging into your employee handbook. Seriously, when’s the last time you actually read that thing? Many companies offer housing benefits but don’t advertise them heavily. And when you’re on the job hunt, research a company’s housing benefits before you sign on.
And if your company doesn’t offer housing benefits yet, present it as a win-win. They help you with housing, and they get a more stable, productive workforce. The housing market might be brutal right now, but your job could be your secret weapon in fighting back.
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