VACANT UNIT: a dwelling unit that has been vacant for not less than nine consecutive months.
VERY LOW-INCOME: Households whose incomes do not exceed 50 percent of the median area income for the area, as determined by HUD, with adjustments for smaller and larger families and for areas with unusually high or low incomes or where needed because of facility, college, or other training facility; prevailing levels of construction costs; or fair market rents.
VETERANS HOMELESSNESS PREVENTION DEMONSTRATION (VHPD): a joint effort of the U.S. Department of Housing and Urban Development (HUD), Veterans Affairs (VA), and Labor (DOL) to provide homelessness prevention and rapid rehousing to veterans, especially those returning from conflicts in Afghanistan and Iraq.
VOUCHER MANAGEMENT SYSTEM (VMS): the system's primary purpose is to provide a central system to monitor and manage the Public Housing Agency (PHAs) use of vouchers. The VMS collects PHA data that enables HUD to fund, obligate, and disburse funding in a timely manner, based on actual PHA use.