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2018 Fair Market Values
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HUD released its fiscal year (FY) 2018 Fair Market Rents (FMRs) and published notification of the release in a notice titled “Fair Market Rents for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program, and Other Programs Fiscal Year 2018 and Adoption of Methodology Changes for Estimating Fair Market Rents.”

 

In addition to providing notification of the release of the FY 2018 FMRs, the notice also adopts the previously proposed tweaks to the FMR methodology, describes how the FY 2018 FMRs are calculated, lists how to request reevaluations of FMRs, and responds to previously submitted comments on the previously published notice on methodology changes.

 

The document can be found here.

 

Attached below is the HUD list of Fair Market Rents (FMRs) for Alameda County for 2018. If you are providing subsidized housing under any federal programs, this is CRITICAL. If not, this is great info regardless.

 

  • In general, HUD FMRs tend be below market rents. If your rents are below the HUD FMR you might consider raising them, in a measured fashion, up to the FMR levels.
  • If your rents are somewhat higher than the FMRs, you may want to set any 2018 increases to stay within range of the FMRs. Obviously, your individual economics and situations dictate.

 

 

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