Glossary of Terms: V

A Voucher generally refers to a Section 8 Voucher provided by a local Housing Authority to a low or moderate income person but can also refer to an emergency voucher for short-term motel voucher for a homeless person. The Section 8 Voucher issued by Housing Authority makes up, in payment directly to the landlord, the difference between what a low or moderate income tenant can pay for rent (roughly 30% of their income) and the Fair Market Rent (more or less an average rent). Most Section 8 Vouchers are “tenant-based” meaning that the voucher holder can shop for an apartment or house rental on the private market, while others are “project based”, meaning that they are not portable, but can only be used in a specific building.