Minimum Price for Section 8 House

2 Replies

Hello,

I was thinking of buying a cheap $40,000 house and renting to a section 8 tenant.  I am worried, though, that no one will want to live in this house - section 8 or not.  From your experience, have there been any instances in which you could not find any section 8 tenants for your property?  What would you suggest as the minimum price for a house to ensure that there will be a large number of interested section 8 tenants?

Thank you so much!

Justin Z. It all depends on the neighborhood. If it's a bad house in a bad neighborhood, nobody will want to live there unless they have no other options. The minimum price you are trying to find is irrelevant. It all depends on your market. Where is this house located? Where I live you could have a nice 3-1 updated home in an average neighborhood for around $40k that would rent easily for $900 a month to a Sec.8 tenant. That does not mean it will be true in your area. You made it sound like the house is either in a bad area or in bad shape. The house must pass a Sec8 inspection before you can rent it out, so it can't be a dump. Also, Sec8 people can live wherever they are accepted. Just because they don't have a lot money doesn't mean they will be wanting to live in a warzone.

We have a person in the Social Service department that frequently calls us about vacancies for section 8 apartments. We have no problem finding tenants. You should sign up with them and be on thier list of landlords to call. Our apartments are always inspected by them after a tenant moves out so that we are always in compliance and ready to rent. 

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