How Much Do You Pay For Section 8 Housing

Section 8 voucher recipients are also required to pay 30 of their adjusted income towards the rent.

How much do you pay for section 8 housing. If however the family decides to go above fair market rent the percentage of income it devotes to housing increases. The fair market rent that has been set for the metropolitan area where your property is located. In this city the fair market rent for two bedroom housing is around 1 000 per month.

The local housing market sets the fair market rent which is the going rent for a moderately priced home. The voucher will cover the rest. If a section 8 household earns 1 200 a month and chooses to rent a house at its area s fair market rent or below it pays in most cases approximately 360 a month in rent 30 percent of 1 200.

Individuals must find housing that accepts section 8 vouchers and meets program requirements including a physical inspection. Section 8 adjusted gross income limits vary due to the total number of family members but hud currently sets the maximum eligible household income at 50 percent of the median income in the local area or of the area where applicants intend to use the voucher. Hud uses this figure to calculate the payment standard which it sets at between approximately 80 to 100 percent of the fair market rent.

This payment standard will be between 90 and 110 percent of the fair market rent. Hud covers the remainder. Essentially a housing unit must be safe and sanitary to be eligible.

Depending on the state in which you live this may be equal to one or two month s rent. The section 8 program will help pay for housing but only if it meets the program requirements. The purpose of this program is to grant housing choice vouchers to individuals who meet certain criteria.

To even be considered to receive a voucher the individual must meet four basic criteria which includes their family status income level citizenship and eviction history. The section 8 program is run by hud. Although the department of housing and urban development s section 8 housing choice voucher program will pay a portion of your rent based on your income they do not cover any required security deposits.