In the News

Updated Asset Management and Project Servicing Handbook in the Works

October 17, 2024    

HUD intends to publish the complete, updated handbook in 2026.

 

 

HUD Handbook 4350.1, titled Multifamily Asset Management and Project Servicing, serves as a guide for managing and servicing multifamily housing properties that receive assistance from HUD. HUD...

HUD Publishes Fair Market Rents for Fiscal Year 2025

September 13, 2024    

The FMRs go into effect on Oct. 1

 

HUD is required by law to set Fair Market Rents (FMRs) every year. In general, the FMR for an area is the amount that a tenant would need to pay the gross rent (rent plus utilities) of privately owned, decent, and safe rental housing of a...

HUD Modifies VASH Program to Improve Veteran Assistance

September 13, 2024    

Veterans’ service-connected disability benefits will be excluded when determining eligibility.

 

Senate Appropriations Committee Passes FY 2025 Transportation-HUD Bill

August 21, 2024    

Funding for tenant-based vouchers would increase $2.9 billion above FY 2024.

 

On July 25, in a 28 to 1 vote, the full Senate Appropriations Committee approved the Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill.

The bill...

HUD Seeks Feedback for Direct Rental Assistance Pilot Project

August 21, 2024    

Subsidies would be given directly to the renter, rather than to the site.

 

HUD is seeking to test whether rental assistance is more effective if it’s provided directly to families, with no requirement that a site owner enter a contract with a housing agency or meet...

State of the Nation’s Housing: Rents, Cost Burdens Remain High

July 22, 2024    

Rents continue to rise far faster than wages.

 

The Joint Center for Housing Studies of Harvard University recently released the latest version of its annual report, The State of the Nation’s Housing 2024. The report finds that housing costs continue to rise for both...

Housing Coalition Calls on Lawmakers to Address Rising Insurance Costs

July 22, 2024    

Annual premium increases for affordable housing sites are ranging from 30% to 100%.

 

A broad coalition of groups representing America’s housing providers, lenders, and residents recently sent members of Congress and the Biden administration a letter outlining a number...

Senator Warren Reintroduces Public Housing Restoration Bill

June 17, 2024    

Existing public housing stock faces a $70 billion backlog of repairs.

 

 

Funding Available to Address Health Hazards in Low-Income Housing

May 14, 2024    

HUD recently announced nearly $90 million available to reduce residential health hazards for low-income families, including lead-based paint hazards, carbon monoxide, mold, radon, fire safety, and asbestos. This initiative is part of President Biden’s Lead Pipe and Paint Action Plan to...

Free Energy & Water Benchmarking Services Available Through HUD

April 12, 2024    

More than 700 properties have already signed up for the free service.

 

Recently, HUD’s Office of Multifamily Housing Programs sent out information on HUD’s Energy and Water Benchmarking Service available for sites participating in HUD’s Multifamily project...

HUD Finds Tennessee Owners Guilty of Disability, VAWA Noncompliance

March 12, 2024    

HUD recently announced that it has entered into a Voluntary Compliance Agreement (VCA) with HUD-funded Tennessee housing providers that will pay $50,000 in compensation to the aggrieved parties. The VCA resolves findings of noncompliance related to Section 504 of the Rehabilitation Act of 1973...

JCHS Report Shows Record Levels of Renters Are Cost Burdened

February 13, 2024    

The share of low-rent units dropped from 22% of the stock to just 16% in the past decade.

 

Harvard University’s Joint Center for Housing Studies (JCHS) recently released its biennial report on the state of rental housing in the United States (available...