Summary: The primary uses of FMRs areto determine payment standards for theHousing Choice Voucher (HCV) program, to determine initial renewalrents for some expiring project-basedSection 8 contracts, to determine initial rents for housing assistance paymentcontracts in the Moderate RehabilitationSingle Room Occupancy program, and to serve as rent ceilings in the HOME program. HUD’s notice proposed FY 2012 FMRs for all areasthat reflect the estimated 40th and 50thpercentile rent levels trended to April 1,2012. The FY 2012 FMRs are re-benchmarked using five-year, 2005–2009 data collected by the American Community Survey (ACS). These dataare updated using one-year ACS data inareas where statistically valid one-yearACS data is available. The ConsumerPrice Index (CPI) rent and utilityindexes are used to further update thedata from 2009 to the end of 2010.
The proposed FY 2012 FMR areas arebased on current Office of Managementand Budget (OMB) metropolitan areadefinitions and include HUDmodifications that were first used in thedetermination of FY 2006 FMR areas.Changes to the OMB metropolitan areadefinitions through December 2009 areincorporated. The bedroom ratiosdeveloped using 2000 Census datacontinue to be used and stateminimums, calculated each year fromthe estimated FMRs, continue to beapplied.
This notice also includes HUD’sresponses to comments received on theMarch 9, 2011, (76 FR 12985), Federal Register notice (‘‘Trend Notice’’)seeking public comment regarding themanner in which HUD calculates atrend factor, the time period the trendfactor is applied in the FMR estimationprocess and related issues.
HUD received four applications toparticipate in the Department’s Small Area FMRdemonstration. Theseapplications are being reviewed andinformation on the demonstrationprogram will be made available in anotice published at a later date.
Finally, in an effort to serve HUD’sexternal clients who use HUD’sestimates of Area Median FamilyIncome (MFI) and their associatedIncome Limits (IL), HUD is requestingcomments on a proposal to establish acertain date for publishing these parameters.
Comments are due to HUD by September 19, 2011
Date of Publication: August 19, 2011
View the notice here.