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Updated over 3 years ago,
Section 8 Rent Pricing
I've been struggling to find a direct answer for this online elsewhere, so here it goes...
I've been looking into section 8 renting and I'm curious how rents are actually approved and configured.
I'm aware of the HUDUSER.gov datasets for FMR and have found the rental rates for the zip code I'm looking at.
1Bd = $760
2Bd = $940
3Bd = $1170
Now my main question is: Does this mean ANY two-bedroom, whether SF or MF automatically gets $940 for a two-bedroom? is this the max? average? do comps come into play?
For example, would a 2/1 apartment get the same rent as a 2/2 Single-family house?
I'm assuming not, but then how do you KNOW what rent you'll get approved for?
The question underneath all this is that I'm looking at a triplex with 2/1 units and trying to figure out what rent would be for section 8 tenants in this area.
Hope that all makes sense and appreciate ya'll in advance!