Requests for Reassessment of Metropolitan Area or County FMRs Due by September 30
On August 30, the U.S. Dept. of Housing and Urban Development (HUD) announced through its Federal Register the FY20 Fair Market Rents (FMRs). Click here for the FY 2020 FMR Summary for New Jersey. As a basis of comparison, click here for the Final FY2019 New Jersey FMRs.
- PHAs representing at least half of the voucher tenants in multi-jurisdictional FMR areas must agree that the reevaluation is necessary;
- The requestor must be able to supply HUD with data more recent than the 2017 ACS on gross rents of standard quality rental units; and
- HUD will use the data provided to them to reevaluate FMRs.
This is the timeline for requesting reevaluations of your local FY 2020 FMRs:
- Monday, September 30, 2019 – Deadline for reevaluation requests must be submitted by September 30, 2019, the end of the 30-day comment period.
- Wednesday, October 2, 2019 (on or around this date) – HUD will post a list of areas requesting reevaluations, keeping FY19 FMRs in effect in those areas.
- January 10, 2020 – Deadline for data for reevaluations to be supplied to HUD
- January 13, 2020 – HUD will post a list of areas failing to deliver data
- Announcement of any revisions to FMRS to follow