HOW MUCH IS A SECTION 8 ONE BEDROOM VOUCHER IN CHICAGO?

Answer 1

What you are referring to is payment standards. A Housing Authority sets payment standards raging from 90 to 110 percent of the fair market value for the bedroom size that has been approved for the household. Since I'm not from Chicago I can't specify. But in all likelihood the payment standard is going to be the lowest allowable percent (90%). Keep in mind that the Fair Market Rent, or FMR, factors in a reasonable utility allowance in its figures. So let's say that the FMR in Chicago is $1,200 for a 1-bedroom dwelling. 90% of that is going to be $1080. This is the payment standard. The housing assistance payment you can expect the housing authority to pay is the payment standard minus your total tenant payment, which is one-third of your total adjusted monthly income (that is, monthly income minus allowable deductions, such as for $400 one elderly or disabled adult, plus $480 for each child in the household). After the utility allowance is deducted from your Total Tenant Payment, or TTP, you can expect to pay that amount each month out of your pocket.