AAFs

Summary:  The United States Housing Act of 1937 requires that assistance contracts signed by owners participating in the Department’s Section 8 housing assistance payment programs provide annual adjustment to monthly rentals for units covered by the contract. HUD's Notice announces revised Contract Rent AAFs for adjustment of contract rents on assistance contract anniversaries.  The factors are based on a formula using residential rent and utility cost changes from the most current annual Bureau of Labor Statistics Consumer Price Index (CPI) survey.