2023 Fair Market Rents Published & Request to Reevaluate Due 10/3

2023 FMRs Published & Request to Reevaluate due Oct. 3

HUD published the new Fair Market Rents for 2023 which are used by the Housing Choice Voucher (HCV) program to determine the payment standard & determine the amount of rental assistance a family in the program may receive in a certain area. This year HUD altered their methodology to use additional private-sector data. 

Housing agencies that are interested in reevaluating their area’s Fiscal Year (FY) 2023 FMRs must submit a reevaluation request to HUD by Oct. 3, 2022. The requestor must also submit data to HUD more recent than the 2019 American Community Survey (ACS) data used in calculating the FY 2023 FMRs. The Department requires data on “gross rents paid in the FMR area for occupied standard quality rental housing units” and the data “must be sufficient for HUD to calculate a 40th and 50th percentile two-bedroom gross rent.” Requestors may also gather this data through the use of surveys. This data must be submitted by Jan. 6, 2023.

The FMRs are effective on Oct. 1, 2022. Use the links below to access for information.  

 

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