HUD Suspends Small Area Fair Market Rent Implementation
Recently, HUD sent letters to Public Housing Authorities (PHAs) notifying them that the mandatory implementation of the Small Area Fair Market Rent (SAFMR) methodology would be suspended until 2020 for all metro areas except for the Dallas-Plano-Irving Metro Division. Individual PHAs may still choose to voluntarily use the SAFMR methodology, however. NMHC/NAA applaud this decision, as we have long held that zip codes, the geographic level that SAFMRs currently use, do not represent real estate markets and could adversely affect property owners and managers’ ability to provide affordable housing for families.
Provided by NMHC as part of the NAA/NMHC Joint Legislative Program