Notice of revised contract rent annual adjustment factors.
Category
hud-housing-vouchers
Agency
US Department of Housing and Urban Development
Publication date
1995-03-07
Effective date
1995-03-07
Docket
Docket No. N-95-3875
Abstract
The United States Housing Act of 1937 requires that the assistance contracts signed by owners participating in the Department's Section 8 Housing Assistance Payments programs provide for annual or more frequent adjustment in the maximum monthly rentals for units covered by the contract to reflect changes based on fair market rents prevailing in a particular market area, or on a reasonable formula. This notice announces revised Annual Adjustment Factors (AAFs), which are based on a formula using data on residential rent and utilities cost changes from the Bureau of Labor Statistics Consumer Price Index (CPI) and the HUD Random Digit Dialing (RDD) rent change surveys.