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HUD Releases Proposed FY2013 FMRs

New rates Effective October 1, 2012
Comments due by September 4th

2013 Proposed FMROn August 3, 2012, HUD published the Proposed Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program Fiscal Year 2013 in the Federal Register. The purpose of the notice is to provide the preliminary information so that the proposed payment standards can be reviewed prior to taking effect on October 1, 2012.

  • Bergen and Passaic decrease in all unit sizes.
  • Camden, Burlington, Gloucester and Salem increase for unit sizes except for four bedroom units.
  • Atlantic, Cumberland, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Union, Somerset and Sussex increase in most unit sizes.
  • Cape May, Mercer and Warren decrease for all unit sizes except three and four bedroom units.

For more information click here for the notice in the Federal Register.

Click here for a summary table of the new FMR’s and the changes from 2012.

Click here to view the proposed FMR’s by county.

Interested persons may submit comments electronically through the Federal eRulemaking Portal at www.regulations.gov.  HUD strongly encourages commenters to submit comments electronically. Electronic submission of comments allows the commenter maximum time to prepare and submit a comment, ensures timely receipt by HUD, and enables HUD to make them immediately available to the public.

Comments submitted electronically through the www.regulations.gov Web site can be viewed by other commenters and interested members of the public.

Commenters should follow instructions provided on that site to submit comments electronically.

The deadline for comments is September 4, 2012.

by Asish Patel

Asish Patel, Monarch’s senior associate, works with the housing production team. During the past 16 years Mr. Patel has worked on numerous acquisition, rehabilitation and new construction projects; consisting of condo units, single family homes, multi-family apartment buildings, scattered site projects, as well as commercial spaces. To read more about Asish and all of our staff click here. Click here to send Mr. Patel an email.

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