The Atlanta city council voted to allow residents to move in without paying more than $200 per month in rent for their first four years in the city.
It will also allow new apartments to go up in value for up to four years.
The move follows a yearlong effort to lower the rent and make it affordable for new homeowners.
“We’re very excited about this decision,” said Councilwoman Sharon Loughlin, who chairs the Atlantic Neighborhoods Advisory Committee.
“We know that this city needs new housing.
We also know that our residents are facing a housing crisis.
We need more affordable housing, and we want this city to continue to have the affordable housing that is needed to make this city a place for everybody.”
The council voted 11-4 Tuesday night to allow a person to pay $199 per month for their apartment and up to $200 a month for two apartments in a five-bedroom home.
But they could still pay more if they are married, have kids under the age of 18, are disabled or have other financial restrictions.
It does not apply to the current rental units.
The council also will allow new residents to bring in a spouse and children as a single family, or a single parent and one child.
A number of city leaders are pushing to see more of the city built for renters and new homes, including a tax increase that would allow homeowners to deduct up to 10 percent of their home value.
They say the tax increase would provide the necessary funds to build more affordable homes.