Section 8 In Indiana

Hi!

Does anyone have any idea how much Section 8 allots to 3BR properties in Indy...or where I could find this out?

Thanks much!
posherov

Comments(2)

  • posherov26th August, 2004

    Well, I think I found my answer...lol

    I found a document called "Fair Market Rents 2004 on the www.huduser.org website. I don't think I can post the link...yet. grin

    This is the info it gives for Indianapolis:

    0BR $393
    1BR $492
    2BR $592
    3BR $741
    4BR $830

    So I could feasibly charge $800-850 for a 3 BR Section 8 unit? The state will pay up to $741 and the tenant will make up the difference?

    If this information does not match someone's explicit knowledge on the subject, please let me know and don't let me go on in ignorance. Thanks!

    posherov

  • chrisnash11th September, 2004

    Nope, that is not really how it works. The numbers that you pulled off the FMV list are the fair market value's of rent in that area. A Sect 8 voucher will pay that amount, minus all utilities that are not deemed as luxury (no cable or phone), and minus a given percentage of the tenents adjusted gross monthly income - which would go to the landlord every month. I live in TN, and the FMV for a 2 br is around 650. But, most Sect 8 duplex's or houses usually get $550 rent.

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