Mammoth AwardsYou’d be hard-pressed to find someone who wouldn’t want to pay less for rent each month, as doing so would free up money for other expenses.
What’s one way to pay less rent? Besides downgrading where you live or sharing your payment with a roommate, it’s getting a Section 8 housing voucher.
With a voucher in place, you can lower your rental cost and get that much-needed wiggle room in your budget. But is Section 8 for everyone?
No, and we’ll take a look at if it’s right for you now.
1. Do you make too much income?
In an ideal world, everyone would get a Section 8 voucher to reduce their rent. Such is not the case, however, as the program was made with low-income households in mind.
If you make too much money, which is usually more than 50 percent of the area median income, then Section 8 is not right for you, as you will not qualify.
2. Do you have proper citizenship?
Besides meeting the income requirements, Section 8 requires that you be a citizen or a non-citizen with legal immigration status. You may qualify, however, if some people in your household meet the citizenship requirement.
In such a case, you can receive a prorated amount for your housing voucher.
3. Do you want flexibility in picking your home?
Here’s where Section 8 meets many people’s needs, as it’s more flexible than other housing assistance programs. With Section 8, you can pick where you live as long as the property is in line with the Fair Market Rent for the area, and it meets certain safety standards.
What does this mean for you? That you can look around for affordable housing in the form of a townhome, apartment, or single-family home. If the landlord accepts Section 8 vouchers and the rent isn’t excessively high, you should be good to go.
4. Do you have time to wait?
Some people need help with getting affordable housing right away. Is Section 8 a form of emergency rent assistance? Unfortunately, no, and that’s due to its extremely high demand.
Simply put, more people need Section 8 than there are available vouchers. Even if you qualify for Section 8, you will be put on a waiting list. Depending on where you want to live, you could be sitting on that waiting list for years.
If your housing situation is suitable now, but you want to make it more affordable in the future, then Section 8 could be just what the doctor ordered. If you’ve just been evicted and are living on the streets, however, you may want to look for emergency housing assistance via shelters. Then, once you get situated, you can apply for Section 8 to make your housing future more certain.
To apply for Section 8, go here and contact your local Public Housing Authority.
