WASHINGTON D.C. – December 11, 2015 – (RealEstateRama) — Earlier this week, HUD published the final 2016 Fair Market Rent standards that will take effect as of tomorrow, December 11, 2015. FMRs are intended to represent the dollar amount below which 40 percent of the standard-quality rental housing units in an area are rented. They are used in HUD rental assistance programs, including the Section 8 and HOME programs.
In half of Vermont’s counties, the new FMRs are slightly higher than last year. However, in the more densely populated Burlington-South Burlington metropolitan area, FMRs decreased by about 8 percent due to a change in the methodology used there.
Comprehensive information on FMR trends from 1992-2016 for 0-, 1-, 2-, 3-, and 4-bedroom Vermont rental units is available now on the Vermont Housing Data website.