How to Calculate Your Total Tenant Payment (TTP) Through the Housing Choice Voucher Program
Example 1: A young parent is working full time and taking care of two children. Her rate of pay is $8.00 per hour and she works 40 hours per week. Below is how you calculate her TTP.
| $8.00 X 40 hours X 52 weeks = $16,640.00 | Yearly gross income |
|---|---|
| 2 children X $480.00 = $960.00 | Yearly deductions |
| $16,640.00 – $960.00 = $15,680.00 | Yearly adjusted income |
| $15,680.00 / 12 months = $1,307.00 | Monthly adjusted income |
| $1,307 X 30% (.30) = $392.00 | Total Tenant Payment (TTP) |
Now that we have figured the client’s TTP, let’s determine the tenant’s rent requirements based on the following information:
| Rent to Owner | $625.00 |
|---|---|
| Payment Standard | $1,033.00 (client is eligible for three bedroom) |
| Utility Allowance | $285.00 (calculated on Utility Allowance form) |
See Worksheet A to determine amount of rent tenant will pay