Today, we’re going to take a look at how the Section 8 program provides benefits for everyone: renters, landlords, and the communities they exist in.
The PHA paid out over $8 million in rent to area landlords in 2014.
You didn’t read that wrong: the PHA—thanks to landlords participating in the Section 8 program—helped pump $8 million into the local economy last year! The HCV program clearly does not just benefit renters, but landlords as well.
What other benefits are there? A recent study shows that Section 8 renters are generally more satisfied with the quality of their dwellings when compared to people with similar incomes not utilizing Section 8. For a landlord, that’s a good thing: renters who are more satisfied with their units are significantly less likely to treat their unit poorly.
Economic, Community Benefits
Living in poverty is especially difficult on children. When housing is a family’s biggest expense, sacrifices are often made in order for the family to just get by. More often that not, nutrition is among those things sacrificed. Last year, we explored how knowledge and nutrition go hand-in-hand.
Housing Choice Vouchers allow families to move into affordable housing located in good school districts. A decrease in their housing expense means they don’t have to sacrifice as much, which also increases the likelihood their family will have access to proper nutrition. Ultimately, the whole community benefits from this as the children’s development will not be impacted and will help them do well in school. In today’s society, education is key to financial stability: housing choice vouchers help both parents and children get on a path towards self-sufficiency.
One Program, Total Benefit
Housing choice vouchers help both parents and children get on a path towards self-sufficiency
The Section 8 program provides an enormous benefit to the entire community. It strengthens the fabric of Peoria by strengthening the finances of so many. Affordable housing is an important part of what makes Peoria a viable city for all to exist in, and many of its graduates are better off because of their experience with the Peoria Housing Authority.
Next week, we’re going to profile a recent Family Self-Sufficiency graduate who just bought her first home. Stay tuned!