Thursday, March 10, 2016

Projected $8 Million (10.5%) Increase in HUD Section 8 Voucher and Admin Fee $$ Will Bring Home Forward Voucher Total to Nearly $85 Million Annually.

In retrospect the recent decision by Portland metro housing authorities to fund a market study of local rental housing costs that resulted in a 28% increase in HUD fair market rents may rank as one of the smartest affordable housing decisions ever made. 

Portland area voucher tenants will have expanded housing choice AND HUD has now come up with additional housing assistance and admin fee funding to help pay for some of the additional costs.

In the case of Home Forward, their Board packet HERE (pg 41) shows that total HUD Housing Assistance funding and admin fee funding is projected to increase by more than $8 million/10.5% in FY 2017 to nearly $85 million annually (pic below shows a breakout). 

I anticipate that other Portland metro housing authorities also received additional funding from HUD but don't have the details.

Originally created and posted on the Oregon Housing Blog. 

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