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Updated about 8 years ago,
Section 8 Rental Rates
I'm looking at purchasing property and renting as section 8. In particular the property is in Denver market and more specifically in Arapaho County and town of Lakewood. In effort to find what the Section 8 rent rates would be I found below page that appears to list rent rates for 1-4 bedrooms:
https://www.huduser.gov/portal/datasets/fmr/fmrs/F...
A couple questions about this:
- Are these rents standard across county I'm looking at? For example, from reading table in above link looks like a 2 bedroom will collect $1,305 rent. Is that for any 2 bedroom in county or is there further criteria to determine rent rate?
- What is "criteria" to count a bedroom as far as section 8 is concerned? In particular property has 2 bedrooms upstairs and 2 more downstairs. However, basement none conforming rooms and I assume would have to make them conforming before can jump to the 4 bedroom rent rate in above link?
- Property I'm looking at is duplex and one of the units is already section 8. It's a 2 bedroom but under the $1305 rate outline in above link. What is steps to bring rent up to this value in regards to section 8?
- Any other thoughts/suggestions when trying to determine rent rates for potential section 8 property greatly appreciated.
Thanks.
-Charlie