Fair Market Rents Effective Oct. 2, 2017 and Comments Due October 2, 2017
On September 1, 2017, HUD published the Proposed Fair Market Rents for the Housing Choice Voucher Program Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2018 in the Federal Register.
The purpose of the notice is to provide the preliminary information so that the proposed fair market rent payment standards can be reviewed prior to taking effect on October 2, 2017.
To view the full national FY18 Fair Market Rents (FMRs) click here.
- Bergen, Burlington, Camden, Gloucester, Hudson, Mercer, Passaic, Salem, and Warren increased.
- Atlantic, Cape May, Cumberland, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Somerset, Sussex, and Union decreased.
- The largest percentage increase was in Warren County for a two-bedroom apartment which increased 10%.
- The largest percentage decrease was in Mercer County for a two-bedroom apartment which decreased 3.3%.
On May 26, 2017, HUD published a notice proposing changes to the methodology used for estimating FMRs and requested public comment.
This notice adopts HUD’s May 26, 2017 proposed material changes to the methodology for estimating FMRs and notifies interested parties that FY 2018 FMRs are available.
This notice also describes the methods used to calculate the FY 2018 FMRs and enumerates the procedures for Public Housing Agencies (PHAs) and other interested parties to request reevaluations of their FMRs as required by HOTMA.
Lastly, this notice responds to public comments HUD received on its May 26, 2017 notice.
Interested persons may submit comments electronically through the Federal eRulemaking Portal. 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 October 2, 2017.