HUD to Publish Revised FY 2022 FMRs for 12 Areas
The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Thursday’s Federal Register of revised fiscal year 2022 fair market rents (FMRs) for 12 areas, based on new survey data. The 12 areas (representing nine states, with California, North Carolina and Washington each having two revised areas) are updates to the FMRs published in August 2021. The FMRs are used for the Housing Choice Voucher program, Moderate Rehabilitation Single-Occupancy program and other HUD programs. The revised FMRs are applicable April 9.
The effect of the COVID-19 pandemic on maximum rents and achievable rents for low-income housing tax credit properties was discussed in the March 8 edition of the Tax Credit Tuesday podcast.