How Much Rent Must You Pay For Section 8 Housing?

We’ll answer that and provide more insight into how Section 8 works so you can begin the application process soon.

If you cut your rent costs, think of what you could do with those extra savings. You could use them to pay down credit cards and other debt.

You could save up and build your emergency fund, so you don’t go into deep debt if something unexpected happens. You could also start saving for a new car or home.

Unfortunately, many feel that cutting rent costs involves downgrading where you live or having roommates.

That’s simply not the case, though, as the Section 8 program can reduce your rent so you can start working towards goals like those listed above.

What You’ll Pay for Rent Under the Section 8 Program

Section 8 housing vouchers may make rent less costly, but they won’t necessarily make it free. The amount of rent you’ll pay will be based on your income.

This usually amounts to 30 percent of your monthly income, with the government picking up the rest of the tab.

As an example, let’s say you make $2,000 per month. The apartment you want to rent costs $1,000 per month.

With a Section 8 voucher, you’ll pay $600 per month in rent (30 percent of $2,000). The government, meanwhile, will pay the remaining $400 each month directly to your landlord.

Keep in mind that the property you want to rent must fall in line with the “Fair Market Rent” established by the HUD.

In other words, it must be considered affordable for the area, so you won’t be able to pick a luxury apartment with the hopes of the government paying for any excess rent costs.

In the example above, you can count on your voucher paying that $400 remainder of the rent, provided that the Fair Market Rent for the area is equal to or greater than $1,000.

What happens if the property you pick is more expensive? You’ll be responsible for paying the difference, in addition to the 30 percent of your income.

As you can see, Section 8 can provide quite the rent relief if you’re used to paying half of your income to your landlord every month. What’s the downside of the program? Its demand, which is quite high since it’s so beneficial.

It’s not unusual for a Section 8 waiting list to last years. This is why you should apply for Section 8 now if you’ve been seeking rental assistance, as your wait may be very long.

To begin the application process, contact your local Public Housing Agency. If you need affordable rent soon, ask them how to get it.

For example, they may suggest you seek Section 8 housing in a different area than where you currently live due to lower demand.

You can also ask about any preferences that can move you up a waiting list faster, such as being homeless, living in substandard housing, or being disabled.