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HUD Accepting Public Comments on FY14 FMRs

U.S Department of Housing and Urban Development
 

The Department of Housing and Urban Development has released the FY14 proposed Fair Market Rents (FMR) for public comment. Surprisingly, rents in most, but not all metropolitan areas will decrease in the FY14 estimates from the FY13 FMR’s.

  • The Stamford-Norwalk area will see rent decreases of $120 for both 3-bedroom and 4-bedroom unit sizes.
  • Litchfield County experienced the biggest drop with an 8% decreases in FMRs across all unit sizes.
  • The Milford-Ansonia-Seymour area will see a 6% drop across all unit sizes.
  • The New Haven-Meriden FRMs will decrease for all unit sizes except for studio apartments which is posting a $57 increase from $874 to $931.
  • The Harford-West Harford-East Hartford area saw rent increases for all unit sizes with the largest increase in 4-bedroom apartments from $1593 in FY13 to $1693 in FY14.
  • Southern Middlesex County also posted increases for all unit sizes with both 3-bedroom and 4-bedroom units increasing by $146.
  • Waterbury is the only other area to have FMR increases for all unit sizes.

The FY14 FMR’s are based on the 5-year, 2007-20011 American Community Survey (ACS) data.  Comments are due by Wednesday, September 4.

List of FY2014 FMRs for existing housing. 
View FY2013 Final FMRs

 
 

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