HUD’s Office of Policy Development and Research (PD&R) has posted “hypothetical” small area fair market rents (SAFMRs) for federal fiscal year (FY) 2017. The data set of 2017 SAFMRs was posted this morning to PD&R’s SAFMR web page.
2017 FMRs were published in a Federal Register notice on August 26. That notice explained that while HUD will no longer publish proposed and final versions of FMRs, PHAs may comment on the FMRs and request reevaluation until September 26.
As further explained in the August 26 notice, PHAs may provide data-supported comments or requests for reevaluation of SAFMRs by using HUD’s special tabulations of the distribution of gross rents by bedroom unit size for ZIP code tabulation areas. HUD will post revised SAFMRs after confirming the calculations.
HUD published a proposed rule on the use of SAFMRs in the HCV program on June 16. The rule, which is intended to help reduce the number of assisted families that reside in areas of high poverty concentration, would require the use of SAFMRs in certain metropolitan areas if the area meets a specific set of criteria. SAFMRs may also be used in determining public housing flat rents in metropolitan areas.
Interested in learning more about SAFMRs? Make an appointment to talk with one of our rent calculation experts at The Housing Conference. Annie Stevenson and other industry experts are available for limited free one-hour Q&A sessions with registered conference attendees. Don’t delay, signups close this Friday! Register online or email firstname.lastname@example.org for more information.