AARP Hearing Center
The federal Department of Housing and Urban Development (HUD) contracts with for-profit owners of private multifamily housing [to] make specific rental properties available to qualified low-income households...Approximately 1.2 million renter households of all ages benefit from this type of rental subsidy, including 500,000 older households. Most Section 8 contracts have expired or will expire soon, and the property owners must now decide whether to renew their contract or leave the program ("opt out"). The problem is concentrated among those projects for which the rent levels set by the Section 8 contract are below the prevailing market rents for comparable units. Owners thus have an incentive to leave the program and convert their property to private market rentals.
MORE FROM AARP
Forum: Building Livable Communities for All Generations
On October 31, 2023, AARP and the National Housing Conference (NHC) co-hosted “Building Livable Communities for All Generations,” an in-person and online event to discuss the importance of creating communities that are safe, accessible, and inclusive for all ages and backgrounds.
Affordable In-Law Suites and Backyard Bungalows: Capturing Opportunities in Accessory Dwelling Units
Only July 17, 2019, AARP national housing experts hosted a livestream event sharing insights into the latest accessory dwelling unit (ADU) design options and stories from families who are taking advantage of this growing and innovative solution.
