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August 23, 2005
HUD Data Show Housing Voucher Costs Leveled Off Starting In 2003 As Rental Market Cooled
From Center on Budget and Policy Priorities:
The Administration has pointed to “spiraling” costs for the Housing Choice Voucher program to justify radical changes in the program’s funding structure and the elimination of many key protections for low-income families. HUD and Treasury data indicate, however, that far from spiraling, growth both in the average cost of a voucher and overall expenditures under the Section 8 program (which includes the voucher program and a separate “project-based” assistance program) have eased considerably since peaking in 2003. The housing voucher program helps about two million low-income households — most of them senior citizens, people with disabilities, and working families — to rent modest housing in the private market.
The recent slowdown in spending growth reflects the fact that most of the increase in program costs in 2003 and preceding years was driven by temporary pressures that have since eased.
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Posted on August 23, 2005 09:31 PM
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