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Updated almost 2 years ago,
Question about Section 8 Rentals and FMR
Hi everyone,
I am attempting to find my first rental property which I may make Section 8. With Section 8 in my area, HUD has a FMR of $2,009 for a 3-bedroom house. On rentometer, the area I am looking in has an average 3 bedroom rental income of $1525 (not HUD/Section 8). My question is if I purchase a property in an area with normal market rental of $1525 could I still make the property section 8 and get a FMR of $2,009 from HUD?
Thanks for your time! I look forward to hearing from you guys!