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IREM Signs onto HUD Comment Letter

June 28, 2017

On June 26th, 2017 IREM joined eight other real estate industry organizations in signing onto a comment letter that was submitted to the United States Department of Housing and Urban Development (HUD) regarding HUD’s “Notice of Proposed Changes to the Methodology Used for Estimating Fair Market Rents.”

The letter expresses support for the Housing Choice Voucher (Section 8) program and the proposed change to the way Fair Market Rent (FMR) is calculated by expanding the survey and better accounting for factors that create more volatility. It also outlines concerns with the concept of Small Area Fair Market Rents (SAFMRs), stating ZIP codes are too small of an area to accurately reflect the fair market rate of rents.

The IREM Federal Housing Advisory Board (FHAB) has discussed these issues with HUD in the past and will continue to do so during their upcoming meetings.

More information can be found in the full text of the letter.