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HUD Publishes Final FY13 FMRs

U.S. Department of Housing and Urban Development
 

On October 1, 2012, the Department of Housing and Urban Development (HUD) published the FY13 Fair Market Rents (FMR) which do not differ from the proposed FMRs released in August. Nationally, FMRs increased an average of $47 from FY12 to FY13. There was an average increase of $57 in 2,295 areas and an average decline of $34 in 270 areas. Seven areas saw no change.

In Connecticut, most areas will experience decreases in their FY13 FMRs when compared to FY12:

  • Bridgeport’s FMRs will decrease for all rentals except 3 bedroom rentals, with the FMR for 4 bedroom rentals down over $100 from $1853 to $1743.
  • Colchester-Lebanon’s FMR will increase for all rentals with 4 bedrooms experiencing the highest increase, rising from $1389 in FY12 to $1695 in FY13.
  • Danbury’s FMRs will decrease for all rental types with the biggest drop ($168) in the 1 bedroom FMR, which declined from $1191 to $1023.
  • Hartford-West Hartford-East Hartford will see increases in the FMR for all unit sizes, except for a minor decrease for 0 bedroom unit FMR.
  • FMRs in Milford-Ansonia-Seymour will decrease for all unit sizes, with the exception of 4 bedroom units, which have a minor increase.
  • New Haven-Milford experienced decreases for all rentals except for a slight increase in the FMR for 3 bedroom units.
  • Norwich-New London’s 4 bedroom FMR will increase, but all other units sizes will see a decrease in the FMR, with the largest decrease occurring for 1 bedrooms, which will drop from $989 to $829.
  • FMRs in Southern Middlesex County will have large increases for all rentals, including a significant $284 jump for 3 bedrooms from $1386 to $1670.
  • Stamford-Norwalk will experience decreases across the board in their FMRs, with a $253 decrease in 3 bedrooms from $2305 to $2052.
  • FMRs in Waterbury will decrease for all rentals, with all decreases exceeding $100 except those for 4 bedrooms.
  • Litchfield County saw a mix of increases and decreases in their FMRs.
  • Windham will see FMR decreases for all rental classes with the largest decreases, $120, for 0 and 1 bedroom units.

Fair market rents are used to determine rent thresholds for federal housing assistance programs. For the second year in a row HUD is using the 2006-2010 5 year American Community Survey data as the baseline for FMRs.

Click here for FY13 FMRs. 

Read the full federal register notice here

 
 

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