(RECAP: On November 16, HUD published in the Federal Register a final rule regarding the use of small area fair market rents (SAFMR) in certain metropolitan areas, and replacing HUD’s existing 50th percentile fair market rent (FMR) policy for the Housing Choice Voucher (voucher) program. SAFMRs reflect rent standards in zip code areas while traditional FMRs reflect a single rent standard for an entire metropolitan region. According to HUD, 50th percentile FMRs—the current policy for addressing high voucher concentration – have been largely ineffective. HUD expects that SAFMRs will better address high levels of voucher concentration in certain communities and give voucher holders access to areas of high opportunity by providing a subsidy that is adequate to cover rents in those areas. HUD also addressed concerns posed by NCSHA and others about using SAFMRs in low vacancy areas by exempting areas with vacancy rates of 4 percent or less.)
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