This paper proposes an alternative for low-income housing policy一“the housing account model". An account is suggested for the taxation of new construction in high-income housing and the subsidy of new construction in low-income housing. The government uses the account as a mechanism to control the high- and low-income housing markets. Key variables of the model are discussed in operational level. Some impacts of the model are also discussed. Finally, two existing low-income housing programs一Inc1usionary Zoning and Public Housing are compared with the Housing Account Model.