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Main Real Estate Terms Section 8 Housing

Section 8 Housing



privately owned rentaldwellingunits participating in the low-income rental assistance program created by 1974 amendments to Section 8 of the 1937 Housing Act.

Example: Alandlordelects to participate in the Section 8 housing program. A prospective tenant's income is $800 per month-low enough to qualify for the program. Afair market rentfor the unit is established by theDepartment of Housing and Urban Developmentas $200 per month. The tenant pays 20% of income, or $160 per month, and HUD supplements $40 per month to the landlord.

Dictionary of Business Terms Section 8 Housing

privately owned rentaldwellingunits participating in the low-income rental assistance program created by 1974 amendments to Section 8 of the 1937 Housing Act. Under the program, landlords receive rent subsidies on behalf of qualified lowincome tenants, allowing the tenants to pay a limited proportion of their incomes toward the rent.

Referring Terms: fair market rent


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Section 8 Housing