Rent and mortgage payments are skyrocketing across the country, and more Americans are seeking out housing assistance like Section 8.
In Denver, Colorado rent has increased 17% in the last year which made 20,000 more people apply for Section 8 housing, according to The Sun.
This happened within 2 days of Section 8 applications reopening.
In March 2022, President Biden signed a bill that would fund more affordable housing and community development.
Section 8 housing assistance explained
Low income families and people find subsidized rentals throughout the country using Section 8.
Vouchers can cover anywhere from 30%-40% of rent or the entire thing.
The local public housing offices handle everything on a state level from applications to the actual housing.
Eligibility for housing assistance
- Income cannot exceed 50% of the county median income
- Choose a rental unit below or above payment standard
- Pay 30% of your AGI for rent and utilities
- If rent is more than payment standard, pay the difference
Rent-to-own housing assistance requirements
Some people may qualify for the rent to own option.
- First time homeowner
- One person in household must be employed full time
- Must have minimum amount of money in a savings account
- Attend a pre-assistance homeownership course
- Attend housing counseling program
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