How Do You Calculate Section 8 Rent?
Section 8 Rent is a subsidy program established during the Great Depression to relieve the housing crisis that was taking place at that time. While there have been great changes to this program over the years, as of 2009, the primary principle remains: for low-income families to have more options when choosing housing. Calculating the rent and understanding the complexity of the formula take some patience, but it can be done easily. There are two types of Section 8 assistance: the Rental Voucher Model and the Certificate Model. Calculate your monthly income by adding up your pay stubs and income documents. For workers who are paid every two weeks, multiply one pay stub by 2.5. This will equal your monthly income. Be certain you have added any assets, child support or other benefits you may receive into your total. If you are self-employed, find your adjusted gross income (AGI) on your prior-year tax form. Consider the Rental Voucher Model. Using this model, the Public Housing Authority