Workers Getting Housing Benefits

[jeffrey]

Soaring housing costs mean more workers are unable to afford homes in the areas where they work, a problem that has major repercussions for employers trying to recruit and retain workers in hot housing markets. So more employers are offering housing benefits such as grants and loans — in some cases, even building homes their employees can afford.

For Megan Banach, a housing benefit offered by her employer meant she could stop living with her parents and get a place of her own.

About three months ago, the registered nurse bought a two-bedroom condo a block from her employer, Northwest Community Hospital in Arlington Heights, Ill. She bought it through a program the hospital runs. It allows full-time employees who earn less than $70,000 a year to get $5,000 toward a down payment on a first home.

Employees must stay at the hospital five years or they have to repay all or part of the money. Homes must be within 10 miles of work... [read more at usatoday.com]