The Danville Redevelopment and Housing Authority serves Danville and Martinsville and says increased demand for rental units in the region is causing them to face a housing shortage for their Section 8 program. So they say the are looking to purchase properties and to encourage landlords to increase available housing.
The agency is also looking for landlords who would be willing to rent under the program.
For the current fiscal year, the group has about $7.3 million in funding available for landlords through its Housing Choice Voucher program.
According to a report from Realtor.com, the national median for rent was $1,792 last month. That’s a 17% jump from a year ago, marking double-digit increases for studio apartments, one bedroom and two bedrooms.
February’s new high makes the typical apartment $283 more expensive each month than it was in 2020, before the coronavirus pandemic.
According to experts, that marks a nearly 20% increase over the past two years.