Proposed Fiscal Year 2010 Fair Market Rents

From: HUD USER News
 
The proposed Fiscal Year (FY) 2010 Fair Market Rents
(FMRs) will be published in the Federal Register on
Tuesday, August 4, 2009, but the tables, documentation
system and a copy of the preamble are available on the
HUD USER website, www.huduser.gov/datasets/fmr.html, as
of Friday, July 31, 2009. The proposed FMRs, subject to
comments, are used in the Housing Choice Voucher, the
Moderate Rehabilitation, the project-based voucher, and
any other programs requiring their use. Section 8(c)(1)
of the United States Housing Act of 1937 requires the
Secretary to publish FMRs periodically, but not less than
annually, to be effective on October 1 of each year. The
FMRs are estimated at 40th and 50th percentile rent
levels.
 
A 30-day comment period has been provided to ensure that
final FMRs are published by October 1. In this notice,
HUD is requesting suggestions for changes in the FMR
methodology that will be examined in a subsequent notice
illustrating examples of possible methodological and
geographic changes in FMRs. HUD will publish this
additional Federal Register notice before the proposed FY
2011 FMRs are released to seek public comments on the
proposed changes.
 
Some areas are granted higher FMRs (based on the 50th
percentile rather than the 40th percentile of the local
rent distribution) to achieve deconcentration of units in
high poverty areas by voucher holders. An area that
qualifies for a 50th percentile is set at that level for
three years, and then its deconcentration progress is
evaluated. For the proposed FY 2010 FMRs, 16 FMR areas
are eligible to use 50th percentile FMRs.
 
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