HUD to Release Final Rule on Small Area FMRs in Voucher Program
The U.S. Department of Housing and Urban Development (HUD) will release its final rule tomorrow concerning small area fair market rents (SAFMRs) in the administration of the housing choice voucher (HCV) program for certain metropolitan areas. HUD will also release a notice to set the selection values for SAFMRs. The final rule is expected to give HCV tenants access to areas of high opportunity and lower poverty by providing a subsidy adequate to cover rents in those areas. The rule also includes additional criteria by which SAFMRs will be set, noting that the additional criteria means that seven metropolitan statistical areas (MSAs) are exempted from complying with SAFMR final rule. The final rule will be effective 60 days after publication in the Federal Register.