1 / 12

The Section 8 Program

The Section 8 Program. Housing 101. Short History Lesson. Section 8 of the Housing and Community Development Act of 1974 Types of Section 8 New Construction and Substantial Rehabilitation Moderate Rehabilitation Vouchers. Section 8 Voucher Eligibility.

jacoba
Download Presentation

The Section 8 Program

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Section 8 Program Housing 101

  2. Short History Lesson Section 8 of the Housing and Community Development Act of 1974 Types of Section 8 • New Construction and Substantial Rehabilitation • Moderate Rehabilitation • Vouchers

  3. Section 8 Voucher Eligibility • At least 75% of households admitted each year must have incomes < 30% of HUD AMI. • Maximum is 50% of HUD AMI • Income limits apply at time of admission.

  4. 30% of HUD AMI

  5. How Much Rent Do Vouchers Cover? Amount of rental assistance is based upon: • Payment Standard 90 to 110% of the Fair Market Rent • Family’s Adjusted Income Includes deductions for dependents & child care costs, elderly and disabled households • Actual Rent and Utility Costs of Apartment

  6. Calculation of Assistance Example: A single parent earning minimum wage in Washington County with 2 children. Payment Standard = 110% of 2 BR FMR or $917 Adjusted Monthly Income = $1,265 [minimum wage] 30% of Adjusted Monthly Income = $379 Amount of maximum rental assistance = $917 minus $379 or $538

  7. When Gross Rent = Payment Standard • If a family rents a unit with rent/utility costs that are exactly equal to the Payment Standard, Section 8 pays the landlord the Payment Standard less 30% of the family’s AMI. • Assistance is $538 in our example.

  8. When Rent/Utilities < Payment Standard • If rent and utilities are below the Payment Standard, the family still pays 30% of the AMI and Section 8 pays the rest. • It is the Section 8 program which saves money when gross rent is less than the Payment Standard.

  9. When Rent/Utilities > Payment Standard • The Voucher covers the Payment Standard minus 30% of the AMI and the family pays the rest. • In our example, the Voucher pays $538 and the family pays up to 40% of its AMI for rent and utilities. • The family pays more than 30% of AMI when the gross rent is more than the Payment Standard.

  10. Other Section 8 Elements • Project-based Vouchers • Family Self-Sufficiency • Home Ownership • Targeted Funding Options: • Mainstream Housing Opportunities for Persons with Disabilities • Family Unification • Veterans Supportive Housing Program (VASH)

More Related