Contract Clock
Find the Section 8 buildings whose owners have a decision coming
HUD's own file lists 4,880 project-based contracts reaching their final expiration in the next two years, and 6,004 Section 8 contracts paying under 90% of Fair Market Rent. This screen finds them, state by state.
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4,880
project-based contracts reaching final expiration in the next two years
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132,942
assisted units under those contracts
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6,004
Section 8 HAP contracts paying under 90% of Fair Market Rent
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409,538
assisted units under those below-FMR contracts
HUD Multifamily Assistance and Section 8 Contracts database, as of October 6, 2026. Active contracts only; final (overall) expiration dates. Not affiliated with HUD. Method.
Where the most contracts are ending
States with the most project-based contracts reaching final expiration in the next two years.
- California457
- North Carolina301
- Ohio276
- New York263
- Massachusetts192
- Texas168
- Illinois160
- New Jersey160
- Florida155
- Pennsylvania154
- Minnesota140
- Maryland135
All states · 24,314 contracts on 23,610 properties in HUD's file
What the screen is for
You want to buy apartment buildings at a price that works. Properties with project-based Section 8 contracts are a large, public, well-documented corner of the market: HUD publishes every contract, its end date, its assisted units and how its rent compares with the area’s Fair Market Rent.
Two things in that file are worth acting on. A contract near its final expiration means the owner is about to choose how to renew or whether to stay in the program at all, and an owner thinking about the next 20 years is open to a sale conversation. A contract paying well under Fair Market Rent may have room to rise at renewal, which is value a buyer can underwrite.
How to use it
- Open the deal screen and pick a state.
- Shortlist contracts by expiration date, size and rent against FMR.
- Value each one at contract rents and at market rents in the offer calculator.
- Read what HUD has to approve before you write a letter of intent.
- When an owner is interested, send the deal to the desk for acquisition financing.
Questions people ask
What is a project-based Section 8 contract?
A contract between HUD (or a state agency acting for it) and a property owner that pays part of the rent on specific units for a set term, often up to 20 years. The assistance stays with the building, unlike a tenant-based voucher, which moves with the household.
Where does this data come from?
The Multifamily Assistance and Section 8 Contracts database and the Insured Multifamily Mortgages file, both published by HUD. Each page shows the date of the file it was built from, and the site is rebuilt from HUD's newer files when they come out.
Does a property on this screen mean it is for sale?
No. It means the public record shows a contract or loan worth asking the owner about. Whether the owner will sell is a conversation you have to start, with the owner of record, never with residents.
What happens to tenants when a contract ends?
An owner leaving the program must give HUD and the tenants at least a year's written notice, and eligible tenants get enhanced vouchers with the right to stay in the building. Most owners renew under one of HUD's options instead.
Found one? Finance it.
Send the deal to the Janover Capital desk for agency, HUD, bank or bridge quotes.