Affordable Housing: 6 Things You Should Know About Finding It Fast

When you think of ways to get affordable housing so you can reduce how much you pay for rent each month, the following probably come to mind:

• Moving in with friends or family.
• Getting a roommate to split your bills.
• Moving to a less expensive home or city.

Unfortunately, those solutions can cause a sacrifice of comfort, which is why it’s great to know that there’s a better option for affordable housing: Section 8 vouchers. Here are the essential details you should know about vouchers, plus another method to solve your high rent issues.

1. The lower your income, the more likely you’ll qualify for a Section 8 voucher.

The Section 8 program was put together to help low-income families get safe and affordable housing. As such, the main requirement for the program is to have income below a certain level. Although this amount differs according to location, you typically need to make less than half the median income for the area to qualify.

Beyond your income, your family size, citizenship status, eviction history, and criminal history will be considered.

2. You’ll need to apply through your local Public Housing Agency.

You can find your PHA here. Give them a call and ask how to start your Section 8 application.

3. If accepted, you’ll go on a waitlist.

The waitlist is the next step in the Section 8 process. Although it may sound far-fetched, some Section 8 applicants say their wait times were 10 years. This can be attributed to the high demand for housing vouchers and limited supply.

4. The wait is worth it.

Having a Section 8 housing voucher means you’ll only have to pay 30 percent of your income towards rent. Thanks to the government, the rest will go directly to your landlord, which allows you to start saving your cash for other purposes.

5. Certain situations can push you past others on the waitlist.

Waitlist “preferences” can help you gain priority with the PHA, which can move you closer to getting a voucher quicker. Some preferences include being homeless, living in substandard housing, or paying over half of your income towards rent. Be sure to ask your PHA about their preferences and disclose any that apply to your situation.

6. You can get a voucher quicker by making several moves.

If you rely on just one waitlist, you’ll probably be waiting a long time for your voucher. That’s why it’s best to be aggressive and do the following to increase your chances of getting a voucher quicker:

• Apply to as many waitlists as possible. Large cities tend to have around 50 waitlists, while smaller ones have an average of 10.
• Open your mind to moving elsewhere. You may find shorter waitlists in cities with less demand for vouchers.
• Apply to affordable housing buildings directly by asking if they have units that charge 30 percent of income. If they say yes, that means you can enjoy cheap rent without needing a voucher. To find such buildings that you can contact, ask your PHA for a list of them, do a Google search, or use this map.