HUD Publishes FY 2019 Fair Market Rents
HUD recently announced in the Federal Register the publication of FY19 Fair Market Rents (FMRs). FMRs are used to determine payment standards for the Housing Choice Voucher (HCV) program, initial renewal rents for some expiring project-based Section 8 contracts, initial rents in the Moderate Rehabilitation Single Room Occupancy program, and rent ceilings for the HOME Investment Partnerships program and the Emergency Solutions Grants program. They are also used in the calculation of flat rents in public housing. The FY19 FMRs are available at https://www.huduser.gov/portal/datasets/fmr.html.
The Housing Opportunities Through Modernization Act of 2016 (HOTMA) requires the Secretary to publish FMRs not less than annually, adjusted to be effective on Oct. 1 of each year. The notice in the Federal Register describes the methods used to calculate the FY19 FMRs and enumerates the procedures for PHAs and other interested parties to request reevaluations of their FMRs, as required by HOTMA. HOTMA also revised the procedure by which HUD publishes its annual FMRs. Specifically, HUD is no longer required to publish proposed FMRs for comment in the Federal Register. Instead, HUD may post the FMRs on HUD’s website and announce the posting by notice published in the Federal Register. Today’s Notice provides that announcement. The FMRs are effective Oct. 1, 2018, unless HUD receives a request of re-evaluation of a specific area. Comments and/or requests for re-evaluation are due by Oct. 1, 2018.
Comments and requests for reevaluations must be submitted through http://www.regulations.gov/ or by mail to: HUD Regulations Division, Office of General Counsel, Department of Housing and Urban Development, 451 7th St., SW, Room 10276, Washington, D.C. 20410-0500. HUD encourages electronic submissions.