Fair Market Rents for housing choice vouchers to be set at the ZIP Code level in 24 metro areas
On November 15, 2016, the U.S. Department of Housing and Urban Development (HUD) announced the publication of the anticipated final rule for Small Area Fair Market Rents (FMRs). According to their press release:
HUD is changing the geography it uses to calculate FMRs in certain areas from a metropolitan area-wide approach to the zip code level as a means to expand the options these families have to live in lower poverty neighborhoods. This “Small Area Fair Market Rent” approach is required in 24 metropolitan areas. Under HUD’s rule, Public Housing Agencies (PHAs) operating in other metropolitan areas can opt to apply this new zip code based approach.
Econometrica has been anticipating this final rule and has supported PHAs for years with services related to determining and appealing FMRs. We have assisted HUD in updating the methodology and survey instrument for FMRs, among other tasks. As the 24 affected PHAs—and others as who choose to opt in—begin to consider how this new rule will affect them, Econometrica remains available for no-obligation consultations. We also welcome the opportunity to respond to any relevant procurement actions. Please review our flyer and contact Doray Sitko at (240) 333-4811 for more information.
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The HCD team is interested in expanding its consultant and subcontractor cadre to include individuals or partner firms with expertise in the following areas: disaster resiliency planning, disaster recovery funds management and program administration; U.S. Department of Housing and Urban Development rural housing and economic development programs; Federal Housing Administration single-family housing policy, asset management, and marketing services; and local workforce development initiatives.