Industry Weighs-In (Again) on HUD Proposal to Change Fair Market Rents | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

(RECAP: On August 15, National Multifamily Housing Council and NAA provided detailed feedback to HUD on a proposed rule that would change how Section 8 Housing Choice Voucher Program Honest Market Rents (FMRs) are set in many areas nationwide. The proposal calls for certain areas to set FMRs by zip code – what HUD calls Small Area Honest Market Rents – instead of the current metropolitan area-wide standard with an adjustment for high-cost areas. If HUD’s proposed rule goes into effect, it could have large impacts on voucher holders and property managers. For example, the zip code where the revitalized NoMa neighborhood in DC is located is slated to see an nearly $500 per month decline in FMRs under the proposed methodology.)