Lakeland Housing Authority’s Payment Standard equal 105% of Current Year Fair Market Rents
Definition of Payment Standard 24 CFR 982.4
- Payment standard. The maximum monthly assistance payment for a family assisted in the voucher program (before deducting the total tenant payment by the family).
Use of the Payment Standard 24 CFR 982.505
- A payment standard is used to calculate the monthly housing assistance payment (HAP) for the family.
- The payment standard for the family is the lower of:
- The payment standard amount for the family unit (voucher) size
- The payment standard amount for the size of the dwelling unit rented by the family
Payment standards are used to calculate amount of subsidy (Housing Assistance Payment and tenant rent portion); and not necessarily the amount a landlord can charge for rent.