How much money can I have on Section 8?

CR7FanBase

How much money are you allowed to have in your checking or savings account when your receiving section 8?

Is there a limit & what is it?

Mollywest

You should be fine as long as you don’t have tens of thousands. They understand you need some savings. You’ll need money to move: moving company; deposit on the new place, and possibly utility deposits as well.

Matthew

Mollywest

Is this and they really want you?To be honest and forthcoming about any income. People will do crazy stuff and risk forever losing the program, Which is a blessing and then basically just you have to deal with regular market prices or be homeless and why to get a few hundred dollars off.

Which, I know most of us don't do, but because people have done that, I am so transparent about everything.

James

So if I had $10,000-$20,000 in my checking account that collects no interest, that’s OK?

Bastan

A lot of confusion on this thread..

Section 8 - 2025 HUD asset limit is $103,200 for the household for new applicants. Interest earned on anything above $51,600 will count towards income and affect your rent. HA can delay implementing it for 6 months for current voucher holders but everyone will eventually be affected.

Medicaid (low income) - Asset limits vary by state but is usually $2,000 for a single person. This program is called Medi-Cal in California, which no longer has an asset limit.

Medicare (SSI/SSDI, elderly/disabled) - Asset limit remains at a bullshit $2,000.

ChamsterXC

Bastan

51,600 a year.. 49,500 as a teacher but about $25000 in assets plus student loans. Looks like section 8 will help all of us!

Christopher

There is NO asset cap for people on section 8.

Anthony

Christopher When HOTMA takes effect it will be $100,000 in assets but if you already live on a property you should be grandfathered in.

Elizabeth

Buy u a safe n tell no one of it. Read the rights and responsibilities, that’s something u signed n should be aware of .

CharlieSalvatore

Wow yall will do anything but get off section 8. Probably hiding thousands under the sofa too

CorusCartel

Yes, there's a limit. You can’t have over $100,000 in total assets like cash, savings, stocks, or investment property. Retirement and ABLE accounts don’t count. If you're over $50,000, they might count some of it as income when calculating rent.

Charles

Basically what the person said below! I legit put any money they might question into there. I one time get 600$ from a friend and housing tried to up the rent since it was in my main bank I showed them every re-evaluation. Never did it again 😭

David

Bragging about committing fraud on the Internet is probably not the best idea