The Two Basic Types Of Section 8 Housing
If you've heard the term Section 8 Housing, you probably know that it has to do with hiring people who are having financial difficulties. But when your income is low and you're looking for better rental properties, it's time to learn even more.
In short, section 8 housing is a way to become an eligible tenant and pay a portion of the normal rent. More than 2 million people in the United States benefit from this program, according to the Center for Political and Budget Priorities.
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The two main types of Section 8 housing
Based on tenants: This is a home selection voucher attached to you, the applicant. Regardless of how long you are eligible for a grant, the section 8 grant will stay with you.
You can use the voucher at any property that meets and accepts the standards set by the PHA. You can search for locations like any other. However, the options can range from limited to nonexistent so you need to be patient and persistent.
Based on the project: Another type of Section 8 is called project-based vouchers and is associated with specific properties. The PHA gives private owners a number of vouchers per year to book a unit for tenants in Section 8.
If you move and then leave, the grant will remain on the property – not following you to the next house. These places can fill up fast. So when everyone else is busy, you have to wait for the current tenant to leave and your number will be called.