YOUR HOME AWAY 
Who says you can’t travel and get paid while doing it?
Being a travel nurse is an incredible opportunity to travel, experience different places while earning a salary. Travel nursing allows you to explore the country.
Do you want to be near mountains or beaches, large cities or small towns? The choice is yours!
Being a travel nurse also comes with a housing stipend to cover living expenses. Read on to learn all about the housing stipend for travel nursing assignments.
As a travel nurse, one of the main considerations is where you will live. The most common housing arrangements for travel nurses are to use agency-based housing or to get a housing stipend.
With agency-based housing, your staffing agency will arrange housing for you. With this option, you don’t have to have the hassle of finding a place. The downside is that you don’t have much say on where you will stay for the next several months.
A housing stipend is a dollar amount that you get that is meant to cover the cost of your temporary accommodations. With a stipend, you are in charge of finding your own lodgings.
The upside here is that you can choose where you will live. Also, if your stipend is larger than the cost of your accommodations, you are getting extra income.
Now let’s examine the details about housing stipend for travel nursing.
Often the extra housing stipend is a blended rate. That means that your hourly rate includes your regular rate plus some extra to cover your accommodations.
This stipend covers housing as well as travel to and from the location. It often is meant to cover meals and other incidental expenses.
It’s important to know that in order to qualify for a housing stipend, you must live 50 miles or more from the location of the assignment.
Also, be aware that the General Services Administration (GSA) lists the maximum daily amount you can be compensated when traveling.
Your employer may pay less. Also, the GSA rates are often based on short-term travel of fewer than 30 days. On the other hand, many travel nurse contracts can last over three months.
Housing stipends can work in several ways. There are monthly rates and bi-weekly sums.
Here is what you need to know about each.
Usually, housing stipends are quoted at a monthly rate. Often this rate will be prorated each week.
It’s important to understand this if you have a six-month rental but will only have an assignment for five months. You’ll have to pay the rent on that last month, even if you aren’t there.
Housing stipends are typically paid out on each paycheck in a prorated amount. So you can expect to get your first stipend pay after your second week.
Keep in mind that if you need to pay a deposit or first month’s rent upfront, you will have to pay for these expenses out of pocket. Yes, you will be reimbursed but make sure you have enough cash to cover those upfront costs.
When you are looking for housing, be sure to search for short-term listings. Many rentals require a year. Six-month terms and less are harder to find.
Ideally, you want a place that includes utilities in the rent. That way you don’t have to deal with the paperwork on those.
It’s also a good idea to look for furnished accommodations. That way you don’t have to transport your own furniture or buy bargain items.
Your travel nursing contract won’t stipulate where you have to live. Consider Affordable Corporate Suites for comfort and cleanliness while still being affordable.
At the end of the day, if you can pocket some of the housing stipend amounts, why not do it?
There are a few things you need to know about housing stipends. First of all, every state has a limit on how much tax-free money travel nurses can earn. Be sure to check that stipend limit for wherever you will travel to/
Be aware that you’ll also need to keep paperwork to prove your expenses. You need to show proof that you have expenses that the stipend is covering.
Track your expenses by keeping a mileage log as you travel. Keep all rent paperwork as well as a copy of all your contracts.
Note that you can’t work 365 days a year and still get a stipend. Stipends are meant for nurses that are not full-time employees. If you work a whole year at one assignment that is considered full-time.
You may want to consider working 364 days or less on one assignment to avoid being penalized.
You can opt out of getting stipends to have a higher income. If you have plans to buy a house or get a loan, you may want to avoid stipends. Usually, you can turn down stipends in favor of a higher hourly rate.
If you need to prove a higher income to lenders, avoiding stipends may be your best bet.
Thanks for reading. We hope this article has clarified the important details surrounding housing stipend for travel nursing.
Are you ready for your next adventure? Contact us to book a reservation or get more information about our comfortable, furnished rooms for you to enjoy.