Last week, HUD published the Fiscal Year (FY) 2022 Fair Market Rents (FMRs). The new rents will become effective on October 1, 2021 for the Housing Choice Voucher program and Moderate Rehabilitation Single Room Occupancy program, unless HUD receives a valid request for reevaluation of specific area Fair Market Rents (FMRs).
HUD also uses the FMRs to determine initial renewal rents for some expiring project-based Section 8 contracts, rent ceilings for rental units in both the HOME Investment Partnerships program and the Emergency Solution Grants program, calculation of maximum award amounts for Continuum of Care recipients and the maximum amount of rent a recipient may pay for property leased with Continuum of Care funds and calculation of flat rents in Public Housing units. The notice provides a description of FMR methodology, lists area definition changes and provides information on FMR re-evaluations. HUD provides an FMR schedule for metropolitan and non-metropolitan areas and for small areas. Comments are due September 30.
