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Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
The program's publicly stated purpose was the development and building of affordable housing, both rental and co-operatively owned, for middle-income residents. Under this program, local jurisdictions acquired property by eminent domain and provided it to developers to develop housing for low- and middle-income tenants.
In the United States [17] and Canada, [18] a commonly accepted guideline for housing affordability is a housing cost, including utilities, that does not exceed 30% of a household's gross income. [19] Some definitions include maintenance costs as part of housing costs. [20]
A new RentCafe analysis has identified the 10 most affordable markets for single-family rentals, and in 9 out of the 10 locations, the average rent is below $1,500. ... Average rent for a single ...
A recent Federal Housing Finance Agency report on Fannie Mae and Freddie Mac confirms that the two government-sponsored enterprises now own some 200,000 single-family homes. Originally designed to ...
It’s the most expensive market in the ranking, with a median home price of $525,000, and only 23% of the market is considered affordable. While rent is also not cheap — an average apartment ...
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