HUD Updates Fair Market Rents in Several Areas

On March 19, HUD issued a notice updating the Fiscal Year (FY) 2021 Fair Market Rents (FMRs) for Houston-The Woodlands-Sugar Land (TX), Knox County (ME), Lincoln County (ME), and Waldo County (ME) based on recently submitted survey data. Stamford-Norwalk (CT) and Transylvania County (NC) also provided survey data for FMR revision; however, HUD deemed the data insufficient to rationalize an update to the original FMR calculations for FY 2021. (An area’s FMR is used to determine a rental unit’s eligibility for landlord reimbursement under the Section 8 Housing Voucher program.) Following the release of the updated FY 2021 FMRs, HUD opened a period of public comment. While most of the comments were reevaluation requests, several noted methodological flaws in the FMR calculation, while others noted that HUD should perform its own analysis to account for significant year-to-year FMR fluctuations. For more information on the FY 2021 FMR changes and comments, see the Federal Register.

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