HUD Publishes FMRs for FY 2024; Announces Additional $113 Million in HCV Awards

Thursday, August 31, 2023 - 12:00PM

The U.S. Department of Housing and Urban Development (HUD) today published fair market rents (FMRs) for the Housing Choice Voucher (HCV) program and other HUD programs for fiscal year 2024. HUD stated that the FMR will increase by an average of 12% nationally and take effect Oct. 1. In another move, HUD’s Office of Public and Indian Housing announced an additional $113 million in HCV funding awards for 118 high-performing public housing authorities (PHAs) in 36 states. California ($37 million) and Texas ($33.7 million) were the only states to receive more than $5 million in extra vouchers.

A coming Notes from Novogradac blog post will provide insight into the FMRs and what they tell us about HUD’s FY 2024 income limits.

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