HUD Releases Final FY 2015 Fair Market Rents

On Oct. 3, HUD issued the final 2015 Fair Market Rents (FMRs). FMRs are used by HUD to set rents for the Housing Choice Voucher program and the Project-Based Voucher program. Project-based housing assistance payment (HAP) contracts also refer to FMRs for eligibility purposes in the Option 1 Entitlement Mark Up to Market rent increase mechanism. The FY 2015 FMRs are effective as of Oct. 1, 2014.