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NAA/NMHC comments on HUD Small Area Fair Market Rent (SAFMR) proposal

from CAA

The U.S. Department of Housing and Urban Development (HUD) issued a proposed rule to change the Fair Market Rent (FMR) levels for the Housing Choice Voucher (Section 8) program from one rent standard for the entire Chicago Metropolitan Statistical Area to separate rent levels for each zip code based on income. This will effectively increase the FMR in high income zip codes by as much as 36 percent and decrease the FMR in low income zip codes by 20 percent. CAA was quoted in this Crain's article on the proposed rule.

The National Apartment Association (NAA) surveyed members recently seeking input on the effects of this proposal. NAA, the National Multi Housing Council (NMHC) and other real estate organizations submitted these written comments to HUD by the August 15 deadline. more

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