A project-based voucher is Section 8 assistance attached to a specific property rather than a tenant. Families in PBV units receive assistance only while living at that property.
A Project-Based Voucher (PBV) is a variation of the Housing Choice Voucher where the rental assistance is attached to a specific housing unit or development rather than following the tenant. PHAs can allocate up to 20% of their voucher allocation (with some exceptions allowing more) to project-based assistance through agreements with property owners.
Under PBV, a PHA enters into a Housing Assistance Payment (HAP) contract with a property owner for a set number of units, typically for a term of 15-20 years. The owner agrees to rent those units exclusively to eligible families at rents within the payment standard. In return, the owner receives guaranteed government-backed rental income for the contract period.
For tenants, PBV provides stable housing in a specific location but less mobility than tenant-based vouchers. However, after one year of occupancy, PBV tenants may request a tenant-based voucher to move, subject to voucher availability. PBV units are often located in new construction or rehabilitated properties, potentially offering higher-quality housing than what might be available on the open market with a regular voucher.
For property owners and investors, PBV offers significant advantages: long-term guaranteed rental income, reduced vacancy risk, and government-backed payments. PBV can make affordable housing development financially viable by providing a reliable income stream that supports financing. FMR rates determine the payment standards for PBV units — check current rates at FMR8.com.
A Project-Based Voucher (PBV) is Section 8 assistance tied to a specific property, not a tenant. PHAs contract with property owners to reserve units for eligible families. The subsidy stays with the unit — if a tenant moves out, the next eligible family in that unit receives assistance.
Yes. After living in a PBV unit for at least one year, tenants can request a tenant-based (regular) Housing Choice Voucher to move elsewhere. The PHA must provide one subject to voucher availability.
Look up current Section 8 Fair Market Rent rates by ZIP code, city, or state.