Monday, September 29: 1:45pm – 3:00pm
Some argue the HUD Fair Market Rent system impacts rural areas unfairly. Because they are based on the American Community Survey’s smaller sample sizes for rural areas, or use regional trends which may not reflect rural market conditions – leading to unreliable rent estimates? Although PHAs can request FMR reevaluations, most don’t, and nonmetropolitan areas don’t have the funds to support an independent survey. In 2024, Montana undertook FMR reevaluations statewide resulting in increases for metropolitan area FMRs (11-22%) and rural FMRs (6-18%). We will discuss the impact of FMR reevaluations, particularly in rural areas, in empowering the HCV program.
Presenters:
Margaret McGilvray
Deputy, Econometrica, Inc.
Alex Thackeray MA
Economist, Econometrica, Inc.
Michael O’Neil
Executive Director, Helena Housing Authority
Adam Bibler
Director of Program Parameters and Research Division (PD&R), HUD