Phoenix could boost landlord incentives to rent to low-income residents
Phoenix will consider increasing a financial incentive to get more landlords to rent to low-income residents.
People with Section 8 Housing Choice Vouchers have few choices in the current marketplace. Under the program, renters pay at least 30% of their monthly income toward housing, while the program — using federal funds — pays the rest.
But Phoenix Housing Director Titus Mathew told a city subcommittee, it’s tough to find landlords, even with the city offering a $500 bonus.
“Private market rentals have escalated and unfortunately payment standards dictated by HUD has not kept up with the private market rental portfolios,” he said.
He suggested increasing incentives to $2,000 have a bigger impact. Mathew will provide more data to the economic development and equity subcommittee in January. Any changes would require the full council’s approval.
Phoenix has set aside $1.5 million in federal relief funds to offer Section 8 landlord incentives. Between September 2020 and November 2021, the city paid incentives to retain 349 landlords who accept the vouchers and 135 to new landlords.
Last year, Chandler increased its Section 8 housing voucher incentive from $500 to $1,000.