HUD Fair Market Rent

HUD has published its proposed Fair Market Rent for 2011.  This is the payment standard in areas for "the  the Housing Choice Voucher, the Moderate Rehabilitation, the project-based voucher, and other programs that require location-specific economic data."

The current FMR can be found here (Milwaukee amounts below, or search by metro area or county at this link).

In addition to the small-area FMR discussed previously, HUD previously increased some areas' FMR from the 40% level to 50% for a three-year period to aid with deconcentrating poverty. There currently are 17 areas using this higher standard, including the Milwaukee metro area.  

At the end of the three-year period, areas are evaluated to determine if the 50% standard would continue to be used, or if it will revert back to 40%.  Ten (including Milwaukee) will be evaluated in 2012, with the other seven being evaluated in 2013. A new area has been added this year for a total of 18.


Why is this significant?  Having a higher FMR means that rental assistance voucher holders will have a higher amount for the maximum rent they can rent to, which means more housing options, some which may be in areas with better academic and employment opportunities.

The rent amounts are listed for 0, 1, 2, 3, and 4-bedrooms. 

• 2010: *Milwaukee-Waukesha-West Allis, WI MSA............ 602   718   858   1081   1114
• 2011: *Milwaukee-Waukesha-West Allis, WI MSA............ 617   736   879   1108   1141

There are rules on how many bedrooms a household can qualify for.

Keep in mind those amounts are at the 50% standard rather than the 40% standard.  The higher rent amounts for 2011 are probably reflective of the increasingly tightening rental market as more homes are being foreclosed on and former homeowners moving into apartments.

HUD is seeking comments on the 2011 levels.  Comments can be submitted at Regulations.gov using [Docket No. FR–5430–N–01]. They are due 30 days after the date of publication (August 4) which I believe makes it Friday, Sept 3.