By Lee Cooley, Scottsdale REALTORS®
During the August 29 Scottsdale Housing Agency Governing Board meeting, Housing & Community Assistance Manager Mary Witkofski recapped recent data about landlords who participate in the department’s Housing Choice Voucher program.
FY 2023/24 Landlord Participation as of May 2024
- 75 additional units with 15 pending
- 15 new landlord partners with 5 pending
- 5 new complexes added with up to 406 potential units (all in 85251)
Questionnaires were sent to current and multifamily rental landlords, as well as short-term rental (STR) owners. Eighty-six percent of participating landlords said they were satisfied with the program. Hundreds of STR owners responded and more than a third expressed interest in Scottsdale’s courtesy property listings, direct deposits and adjusted Fair Market Rates.
Witkofski went on to preview 2025 Small-Area Fair Market Rents (SAFMRs) for landlords in Areas of High Opportunity.
These areas are determined by Census Bureau data. ZIP Codes with lower concentrations of poverty are considered high opportunity areas because they are more likely to increase educational and employment opportunities for voucher holders.
This is great news for voucher holders and landlords. HUD reports that high opportunity neighborhoods benefit voucher holders by having “a positive effect on the economic mobility of residents.” They also benefit participating landlords by allowing the Assistance Office to offer payments “higher than allowed by rent reasonable regulations.”
After new SAFMR rates are approved by the Governing Board in October, they will go into effect next January.
Related:
Spotlight on Underserved Markets: Affordable Housing in High Opportunity Areas