Cities with the highest section 8 rent voucher's?

Question

I am hoping top find out what City/State has the highest monthly rent payouts for section 8?

I thought I read some where that a city close to Fort Lauderdale, FL has landlords that get $1,400-$1,700/month for a 3 bedroom 2 bath house rented to section 8 tenants.

I have tried to google this question with no luck so far.

Anyone have an idea?

What is the average section 8 rents where you own rentals for a 3/2?

Steve Babiak · Answer

I'll repeat this for the uninformed. In some regions, Section 8 vouchers are not RENT vouchers, they are HOUSING vouchers meaning that tenant paid utilities and tenant supplied appliances are deducted from the voucher amount to produce the net payment to the landlord.

I suspect that locations with high voucher amounts will also have high prices to buy real estate. So you really are looking for some kind of gross rent multiplier if you want to identify the best bang for the buck.

Chris Martin · Answer

Just eye-balling the latest 50th Percentile Rent Estimates (http://www.huduser.org/portal/datasets/50per.html) has Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area at $2671 for a 3 BR. To get S-8 FMR (Fair Market Rent) values, use http://www.huduser.org/portal/datasets/fmr.html

For my area, $618 (1BR), $722 (2BR), $856 (3BR) are FMR. But HAs have their own rate schedules. Due to sequestration, 2BR caps for RHA (Raleigh Housing Authority) are $606. I don't know other sizes since we are basically out providing of S-8 housing. Both our remaining properties have cap waivers, and when they expire we will be out of the S-8 assistance program.