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HUD posts proposed 2016 FMRs

Today on the Office of Policy Development and Research (PD&R) FMR page, HUD posted the proposed fair market rents (FMRs) for federal fiscal year (FFY) 2016 (October 1, 2015, through September 30, 2016). HUD addressed publication of the accompanying Federal Register notice as follows:

The FY 2016 proposed FMRs are pending publication in the Federal Register. Publication in the Federal Register will start the public comment process. HUD will not accept public comments in advance of publication of this notice in the Federal Register.

A pre-publication copy of the 23-page preamble to the pending notice was also posted. In the preamble, HUD discusses the advance notice of proposed rulemaking on small area FMRs that was published on June 2:

Comments were requested to determine interest in a program that is based on different measures for determining how many and which areas would receive special FMRs to encourage deconcentration, as well as on alternative FMR-based tools for promoting deconcentration, such as small area FMRs estimated at the ZIP code level. HUD appreciates the comments provided and is currently analyzing this input to inform the next steps in the rulemaking process. For the FY 2016 FMRs, however, the current 50th percentile FMR program is still in place with no change to existing regulations.

Materials posted today include the proposed FFY 2016 FMRs for all areas (see Schedule B), the proposed FFY 2016 small area FMRs for the five demonstration participants (see Schedule B Addendum), and the proposed FFY 2016 exception FMRs for manufactured home spaces in the HCV program (see Schedule D).

The accompanying FMR data set was also posted to the FMR page and includes the following items:

For complete documentation of the development of the FMRs proposed for your area, visit this page at the PD&R website.

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