ABSTRACT
Th e largest housing subsidy program for low-income Americans is also the most inconspicuous in that it does not involve specifi c buildings or “projects.” Whereas public housing and subsidy programs for privately owned rental housing support the construction of specifi c buildings, vouchers enable low-income households to obtain housing that already exists in the private market. Compared to projectbased subsidies, vouchers are less expensive and provide access to a wider range of neighborhoods and housing. However, having a voucher does not guarantee that a low-income household will be able to use the subsidy. To succeed, the household must fi nd an apartment or house that does not exceed the program’s maximum allowable rent, that complies with the program’s standards for physical adequacy, and whose owner is willing to participate in the program.
