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HUD published its proposed FY 2013 Fair Market Rents (FMRs). The FMRs are used to help determine payment standards for the Housing Choice Voucher (HCV) program, initial renewal rents for some expiring project-based Section 8 contracts, initial rents for housing assistance payment contracts in the Moderate Rehabilitation Single Room Occupancy program, and rent ceilings in the HOME program.
A copy of the proposed FY 2013 FMRs is available here: http://www.huduser.org/portal/datasets/fmr/fmrs/docsys.html&data=fmr13
HUD is also accepting comments on the proposed FY 2013 FMRs.
The notice provides the proposed FMRs for all areas that reflect the estimated 40th and 50th percentile rent levels trended to April 1, 2013. The FMRs are based on the 5-year, 2006-2010 data collected by the American Community Survey (ACS). The proposed FY 2013 FMR areas are also based on current Office of Management and Budget (OMB) metropolitan area definitions and include HUD modifications that were first used in the determination of FY 2006 FMR areas. Changes to the OMB metropolitan area definitions through December 2009 are incorporated; there have been no further metropolitan area definitions changes.
The proposed FY 2013 FMRs in the notice reflect several updates to the methodology used to calculate FMRs. First, HUD has updated the bedroom ratios used to calculate 0, 1, 3 and 4 bedroom FMRs based on the 2 bedroom FMR. The new bedroom ratios are constructed using 2006-2010 5-year ACS data. The methodology for calculating the bedroom ratios is very similar to the method used when the bedroom ratios were based on 2000 decennial census long-form data.
Second, these FMRs reflect a new trend factor calculation methodology which HUD stated would be implemented in its proposed FY 2012 FMR publication on August 19, 2011 (76 FR 52058). This trend factor is based on national gross rent data and will change annually.
A copy of the Federal Register notice announcing the proposed FY 2013 FMRs is located here: http://www.gpo.gov/fdsys/pkg/FR-2012-08-03/pdf/2012-18874.pdf