Here is a special post, presented  by Rob Stretch on the BAH or Basic Allowance for Housing program offered by the U.S. Military…

Basic Allowance for Housing Rates 2010

The Basic Allowance for Housing program (BAH) offers a monthly allowance to service members so they can cover housing expenses when government housing is not provided. The amount allotted on the prices in the local rental housing market; the higher-cost area in which a service member lives, the more they receive each month.

Recently, the BAH rates have improved, and the Department of Defense says that it is possible for some service members to have all of their expenses covered by BAH. Because the rates directly correlate with the housing market, as long as they continue to increase, so will BAH amounts.
There are situations in which a service member might have to make up for some of the costs. For instance, if he or she is paying less in rent than the median cost of housing in the area, the difference would need to be paid out of pocket. However, if the service member is paying more than the typical cost for that type of housing, he or she would receive the difference.

According to Military.com, in 2010 the average increase for BAH will be somewhere around 2.5 percent, but some may see as much as 13.6 percent. The average rate increase in 2009 was 6.9 percent, but because of the lower rental costs in many areas this year, the increase is significantly smaller.

For those who live in an area where the rental cost has decreased, there is no need to worry because individual rate protection still applies. In this case, if there is no change in a service member’s status, then individual rate protection prevents a decrease in their BAH amount.

For those who are already receiving BAH and are with their unit, they will not have a decrease in the amount they receive, even if the rates change. They can most certainly receive the increased rate, but they will not have to pay more in out-of-pocket expenses.

Owners, put my technology to work for you.  If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

“Liked this post? Subscribe to my Panama City Real Estate blog RSS feed and get loads more!”