In this short article I’ll cover how to get approved for Section 8 housing vouchers. Before thinking about applying you need to find your local section 8 office and get the papers you need.
Here’s the papers that you need to have ready for your application …
The papers that you need can change based on the state you are in, but in almost all cases you’ll need the following papers:
- Your most recent year’s (So typically last year) federal income taxes.
- Your current paycheck stubs. The last 3 – 6 months should be ideal.
- Bank statements.
- List of assets. This can be your car or home if you own your own home.
Here’s the numbers that you’ll need to know before applying
Your Yearly Gross Income
This is where you’ll use your recent federal income tax statement. Your yearly gross income is your total yearly annual income before taxes and deductions.
Your Local Median Income
To get approved for Section 8 your yearly gross income (The one above) must not be more than 50% of the median income for the region you live in. Your local housing office can tell you what the median income is for your area. You can find your local housing office here.
Calculate Your Income Percentage
Once you know your Gross Income and your Local Median Income you need to calculate your income percentage. This will show you if you are able to apply for Section 8. Just take your Gross Yearly Income and divide it by the Local Median Income.
In this example we have Kelley. She lives in Baltimore, Maryland. The Local Median Income for her state is $64,635 and her Yearly Gross Income is $27,000. What Kelley then does it take her Gross Yearly Income and divide it by the Local Medium Income as such:
$27,000 / $64,635 = 0.4177
She then multiplies that with 100 to get the percentage as such:
$0.4177 x 100 = 41.77%
Can she apply for Section 8? Absolutely! She makes 41.77% and the requirement is anything less than 50%.
You’re now ready to apply …
Once you have these papers and the numbers calculated to you can now apply for section 8