2001 Section 8 Household Demographics

July 10, 2007

Based on information from the Multifamily Tenant Characteristics Systems (MTCS) data from HUD, as of May 2001, approximately 1.5 million families receive assistance through the Section 8 program (The program has grown significantly since 2001 and some more recent estimates put this number closer to 2 million). These families represent approximately 4.1 million household members. “54 percent of Section 8 households were white, 42 percent were African American, and 16% were Hispanic. Average annual income for families to receive assistance is $10,773 (amounts are in constant 2000 calendar year dollars). Of all families, 61 percent are extremely low-income (less than 30 percent of the median), 24 percent are very low-income (less than 50 percent of the median), and 5 percent are low-income (less than 80 percent of the median).
 
 I’m not sure what/where the demographic numbers are for those displaced by Hurricane Katrina – they may be under FEMA’s jurisdiction, but I’m sure the information will show a difference in the average annual income for families to receive assistance. If anyone has any info on this topic, please share it.


Rent & Deposits

June 26, 2007

It’s the landlord’s responsibility to collect the security deposits and monthly rent from your Section 8 tenants.  The Housing Authority does not enforce tenant payments.  Send a rent bill each month and include a stamped self-addressed envelope.  Late payment should never be an issue if you have appropriate processes in place to select quality tenants and treat them with respect.  Tenant turnover costs money.  If you need help with your screening process and applications there are great resources on this site, www.GOsection8.com and www.hud.gov.

Don’t hesitate to post questions here – we get you an answer!


Crazy About the Section 8 Program

April 12, 2007

I’m often asked about the pros and cons of being a Section 8 Landlord.The truth is… The Section 8 program offers real estate investors guarantees and safeguards unmatched by the private sector rental market. With my Section 8 tenants, I’m more confident I’ll get paid, there is little chance I’ll have to worry about an eviction, the lease is likely to be renewed, and I always get my checks at the beginning of each month! The associated challenges that come from dealing with federal agencies as well as financially challenged tenants are easily overcome. The concerns often associated with the Section 8 program are often the result of inexperience, misconceptions, or from lack of credible information. Tenants know that if the rent is not paid, their voucher will be rescinded and they will be evicted.

Thousands of successful landlords have made fortunes in real estate by participating in the Section 8 (Housing Choice Voucher) program. It is my experience that there is no better way to fill your vacant rental units than with Section 8 participants.

http://www.GOsection8.com provides an advanced database system that allows the landlord to list available properties and locate potential Section 8 tenants. If you want to participate in the Section 8 program list your property with GO8 to get the ball rolling.

How does the Section 8 Program work? The Public Housing Authority (PHA) pays a large portion of the rent on behalf of the tenant, typically 2/3rds, at the beginning of each month (usually sent to the landlord/property manager via first class mail, although many states/counties have recently instituted a direct deposit program) and the Section 8 tenant is responsible for the remainder. Please read the “What is Section 8″ blog for more…


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