An overview of three common rental housing subsidy ...

1 overview of rental housing subsidy programs (The Big 3). An overview of three common rental housing subsidy programs where the renter pays only a percentage of their income. Properties participating in these programs appear in this directory. Project-Based Section 8. Public housing Section 8 housing * housing Choice Vouchers What it is Publicly owned and managed Privately owned and Government-funded program rental units for low-income managed rental units for that helps low-income households low-income households households pay the rent on private, market-rate rental units. Some units are reserved only Some units are reserved for seniors or people with only for seniors, people A renter finds a unit (within disabilities. with disabilities, or other certain requirements); a populations. housing authority pays a This is a project-based portion of the rent directly to subsidy . (The subsidy stays This is a project-based the property.)

2 With the unit) subsidy . (The subsidy stays with the unit) This is a tenant-based subsidy (The subsidy goes with the tenant). What it costs Most units cost 30% of the Most units cost 30% of the 30% to 40% of a household's households adjusted gross households adjusted gross adjusted gross income. income. income. Some units have a low, fixed Some units have a low, fixed rent amount. rent amount. What it offers Very affordable rents; Very affordable rents; Very affordable rents;. the rent you pay is based on the rent you pay is based on the rent you pay is based on your income your income your income Variety of housing styles Variety of housing styles A renter gets to choose the (single-family, apartment, (single-family, apartment, apartment he/she wants to townhome) and amenities. townhome) and amenities. rent (including possibly staying in the same unit where the A single access point for Many different landlords renter already lives).

3 Applying, often for a large and property managers number of units. participate. Sometimes you can keep your subsidy if you decide to move. What to be prepared for You will need to apply at a You will need to apply at You will need to apply at a public housing authority to the individual property. Each housing authority to get a get on the waiting list. owner keeps a separate voucher. waiting list. Waiting lists for public Waiting lists for vouchers can housing can be closed or Waiting lists at properties be closed or long. long can be closed or long You still have to apply at the Sometimes there are specific You may have to call or property lists for specific bedroom travel around a lot to find sizes or housing types. out whose waiting list is A credit and history check at open and how to apply. the property will probably be A credit and history check required. will probably be required. A credit and history check at the property will probably be Some properties may choose Some units are older and required.

4 Not to accept vouchers. come with few amenities Other project-based programs The unit must pass an If you don't like the unit(s) operate in a similar manner, inspection before the subsidy offered, you may have including: Section 202, Section payments can start. limited choices. 236, Section 515 for rural The housing authority will help areas, and Section 811. identify an eligible rent. 2006 HousingLink 10/06.