Real Estate Community Forum

hi some realtors advertise a rental property as section 8 with guaranteed income. i am not familiar with this terminology. can someone explain or enlighten me? many thanks.danny

Section 8 is a colloquial term referring housing assistance programs offered by HUD. Quite literally, it refers to section number 8 of the Housing Act of 1937 which originally authorized a type of subsidized housing assistance program.

Generally when someone is referring to "section 8", they mean a program where the federal government of the United States, through its Department of Housing and Urban Development, provides financial assistance to low income families and individuals.

The program is administered by local housing agencies which receive funding for their affordable housing programs from HUD.

Assistance is offered in many ways...housing in a subsidized housing project, rent vouchers etc.

For a landlord, "section 8" can be a very stable and low risk source of income as the rent is guaranteed by the housing agency providing the assistance.

Requirements vary...so check with your city or county department of housing or HUD.