Housing ReliefWhat do many people do when they cannot afford their rent and need to find a more budget-friendly place? They apply for Section 8 housing vouchers. With such a voucher, you can reduce your out-of-pocket rent expenses since only 30 percent of your income will have to go to your landlord. Who pays the rest? The government via the voucher.
If you are struggling with paying your rent right now, the idea of applying for a voucher may sound great. But here’s what’s not so great: The amount of time you’ll have to wait.
Since vouchers are so popular and funding is limited, some applicants must wait 10 years to get the rental assistance they need.
In other words, the voucher process may be too slow, which is why looking for a HUD apartment (sometimes called subsidized housing or project-based Section 8) may be your better move.
The Benefits Of HUD Apartments
Although Section 8 vouchers have helped many low-income households find affordable housing, the wait times may not fit your needs. Here are several reasons why looking for HUD apartments may suit you better:
1. Finding a HUD apartment is a more straightforward process than using a voucher. With HUD apartments, the cheap rent is connected to the property. Simply apply directly to affordable housing buildings near you, and you could get that cheaper rent you desire a lot quicker than having to wait for a voucher. To find HUD apartments, use this Resource Locator tool or search Google for project-based Section 8 or subsidized housing in your city.
2. You get the same affordable rent benefit with HUD apartments as you do with vouchers. If you can find a project-based Section 8 unit that fits your needs, you will only have to pay 30 percent of your income on rent each month.
3. If you make no income because you cannot work, you could move into a HUD apartment and pay zero rent each month.
4. Depending on the building, your utilities may be included, allowing you to reduce another significant monthly expense to pay other bills.
5. You don’t have to worry about convincing landlords to accept your voucher if you take the HUD apartment route, as Section 8 is tied to the property.
6. Some locations have tons of HUD apartments to choose from. Larger cities may have 20-50 affordable housing buildings, giving you many potential options to fit your family’s needs.
7. There are no application fees with HUD apartments. If you take the voucher route, there are.
8. You can move into a HUD apartment a lot quicker than finding your own place where you can use a voucher. People who take the project-based Section 8 or subsidized housing route can enjoy cheap rent in as little as six months, while vouchers can take up to 10 years to process.
