GOOD TO KNOW: NOTES FROM THE FIELD

A feature of the TDA blog where we address topics and questions we’re hearing in the field… Can owners of HOME-assisted rental units begin using new Fair Market Rents as of October 1st? No, HOME Rents are only updated following HUD’s publication of annual HOME Rent Limits, which follow a different schedule than the Fair Market Rents. Rental units assisted with HOME funds are subject to HOME Rent Limits. The HOME Final Rule, at 24 CFR 92.252(a) and (b) defines High-HOME Rents and Low-HOME Rents. HUD publishes HOME Rent Limits annually, and in recent years the HOME Rent Limits have been published in March or April. In the case of both the High- and Low-HOME Rent, the HOME rent is defined as

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