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HUD Published Pproposed FMRs for Fiscal Year 2006

Wednesday, June 1, 2005 - 7:15AM

The U.S. Department of Housing and Urban Development (HUD) today published proposed fair market rents (FMRs) for fiscal year 2006. FMRs are used to determine payment standard amounts for the Housing Choice Voucher program, project-based Section 8 contracts and housing assistance payments (HAP) contracts in the moderate rehabilitation Single Room Occupancy (SRO) program. The proposed 2006 FMRs were calculated using the revised Office of Management and Budget (OMB) area definitions that were issued in 2003, a change originally included in the 2005 FMRs but withdrawn after the affordable housing industry voiced concern over wide swings for certain communities. For 2006, HUD used the county-based statistical areas as defined by OMB, with some modifications. HUD will accept public comments on the proposed FMRs through August 1, 2005.

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