HUD announced in the August 30 Federal Register the publication of FY20 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. Public housing agencies (PHAs) and other interested parties may comment on the FMRs and request a reevaluation within 30 days of their publication.
FMRs are based on the most recent American Community Survey (ACS) data, trended to 2020. HUD modified its methodology this year to incorporate local and regional trend factors rather than one national trend factor to better reflect regional differences. Reevaluation requests must be submitted by the end of the 30-day comment period. PHAs representing at least half of the voucher tenants in multijurisdictional FMR areas must agree that the reevaluation is necessary. The requestor must be able to supply HUD with data more recent than the 2017 ACS on gross rents of standard quality rental units. On or around October 2, HUD will post a list of areas requesting reevaluations, keeping FY19 FMRs in effect in those areas. Data for reevaluations must be supplied to HUD by January 10, 2020.
Questions about how to conduct FMR surveys (data collection) can be addressed to Marie L. Lihn or Peter B. Kahn of the Program Parameters and Research Division at [email protected]. HUD will use the data provided to them to reevaluate FMRs. HUD will post a list of areas failing to deliver data on January 13, 2020, making the FY20 FMRs effective in these areas.
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 Street, SW, Room 10276, Washington, DC 20410-0500. HUD encourages electronic submissions.
The FY20 FMRs and related documents are available at: https://bit.ly/2bX49my