Additional Information on Proposed Small Area FMR Rule from HUD

HUD has posted additional information on its new Small Area FMR rule titled “Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs.” HUD has posted a list of Frequently Asked Questions (FAQ) and a one page fact sheet.

Here’s an excerpt from the FAQ about HUD’s anticipated timeline:

What is the timeline for the Proposed Rule?
The federal rulemaking process is complex and seeking public input takes time. Hence, timing is not easy to predict. HUD’s hope would be to issue a final rule in 2016. The Proposed Rule is currently open for public comment.
Read the full FAQ here.
Read the fact sheet here.