Notice of Revised Contract Rent Annual Adjustment Factors.
Category
hud-housing-vouchers
Agency
US Department of Housing and Urban Development
Publication date
1998-09-24
Effective date
1998-10-01
Docket
Docket No. FR-4379-N-01
Abstract
The United States Housing Act of 1937 requires that assistance contracts signed by owners participating in the Department's Section 8 housing assistance payments programs provide for annual adjustment in the monthly rentals for units covered by the contract. This notice announces revised Annual Adjustment Factors (AAFs) for adjustment of contract rents on assistance contract anniversaries from October 1, 1998. The factors are based on a formula using data on residential rent and utilities cost changes from the most current Bureau of Labor Statistics Consumer Price Index (CPI) survey and from HUD Random Digit Dialing (RDD) rent change surveys.