Nationally, HUD’s Fiscal Year 2023 Fair Market Rents (FMRs) will increase by an average of approximately ten percent. For FY23, HUD is using private sector data to estimate changes in FMRs to address a temporary data availability challenge and to align with market conditions. The basic methodology that HUD uses to estimate FMRs remains the same. The FMRs cover HUD’s Housing Choice Voucher and Moderate Rehabilitation Single Room Occupancy programs, among others, and take effect October 1.
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