HUD Announces Proposed FY 2015 Fair Market Rents

HUD Announces Proposed FY 2015 Fair Market Rents

On Aug. 15, HUD published a notice in the Federal Register requesting comments on the proposed Fair Market Rents (FMRs) for fiscal year (FY) 2015. The primary uses of FMRs are to: (1) determine payment standard amounts for the Housing Choice Voucher program; (2) determine initial renewal rents for some expiring project-based Section 8 contracts; (3) determine initial rents for housing assistance payment contracts in the Moderate Rehabilitation Single Room Occupancy program; and (4) serve as a rent ceiling in the HOME program. Final FMRs for FY 2015 will become effective Oct. 1, 2014.

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