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Voucher Payment Standard and Fair Market Rent Limits
There are no maximum rent limits under the Voucher Program but the owner is expected to charge a reasonable market rent for the unit based upon its size, location and amenities. The Voucher Payment Standard should be used as a gross rent guideline.
All Rents listed below represent gross rents (rent to owner plus utilities).
The new VPS will be used for all new contracts which include moves by participants. The new VPS are a reduction from 2007/2008 clients currently participating in the program are to be notified during their annual recertification, in writing, that the reduced VPS will be applicable at their next recertification. If you have any questions please contact a supervisor.
Bedroom Size |
40th Percentile
Fair Market Rents
(Effective 10/01/08)
|
2007
Payment
Standards
|
2008
Payment
Standards
(Effective 11/05/08) |
Efficiency |
$ 1,002 |
$1,128 |
$ 1,102 |
1 |
$ 1,131 |
$1,285 |
$ 1,244 |
|
2 |
$ 1,288 |
$1,456 |
$ 1,417 |
|
3 |
$ 1,647 |
$1,879 |
$ 1,812 |
|
4 |
$ 2,157 |
$2,459 |
$ 2,373 |
|
5 |
$ 2,481 |
$2,827 |
$ 2,729 |
|
6 |
$ 2,804 |
$3,197 |
$ 3,084 |
INCOME LIMITS
(Effective February 13, 2008)
Family Size |
SECTION 8
EXTREMELY LOW |
SECTION 8
VERY LOW INCOME |
1 |
$20,650 |
$34,450 |
2 |
$23,600 |
$39,350 |
3 |
$26,550 |
$44,300 |
4 |
$29,500 |
$49,200 |
5 |
$31,850 |
$53,150 |
6 |
$34,200 |
$57,050 |
7 |
$36,600 |
$61,000 |
8+ |
$38,950 |
$64,950 |
In the Housing Choice Voucher Program, the housing authority (HOC) sets
the Voucher Payment Standard (VPS). The VPS is used to calculate the
portion of housing subsidy that HOC will pay on behalf of the family in
the form of a Housing Assistance payment (HAP) to the owner.
The participant normally pays 30% of the monthly
adjusted household income toward rent and tenant paid utilities (based on
the HOC utility allowance schedule). HOC pays the remaining balance which
is the contract rent minus the participant's portion (normally 30% of the
participant's adjusted household income). The contract rent and the tenant
paid utilities should not exceed the Voucher Payment Standard. If the
contract rent plus the tenant paid utilities (also known as the gross
rent), exceeds the Voucher Payment Standard, the participant will be
responsible for the amount of the gross rent that exceeds the Voucher
Payment Standard and 30% of the household adjusted income. When entering
into a new contract, the total family contribution of rent and utility
cost cannot exceed 40% of the household adjusted income.
The monthly subsidy paid on behalf of the
participant by HOC cannot exceed the current payment standard minus 30% of
the participant's monthly adjusted household income.
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