Nixon Peabody LLP

  • People
  • Capabilities
  • Insights
  • About

Trending Topics

    • People
    • Capabilities
    • Insights
    • About
    • Locations
    • Events
    • Careers
    • Alumni

    Practices

    View All

    • Affordable Housing
    • Community Development Finance
    • Corporate & Finance
    • Cybersecurity & Privacy
    • Environmental
    • Franchising & Distribution
    • Government Investigations & White Collar Defense
    • Healthcare
    • Intellectual Property
    • International Services
    • Labor & Employment
    • Litigation
    • Private Wealth & Advisory
    • Project Finance
    • Public Finance
    • Real Estate
    • Regulatory & Government Relations

    Industries

    View All

    • Cannabis
    • Consumer
    • Energy
    • Entertainment
    • Financial Services
    • Healthcare
    • Higher Education
    • Infrastructure
    • Manufacturing
    • Non Profit
    • Real Estate
    • Technology

    Value-Added Services

    View All

    • Alternative Fee Arrangements

      Developing innovative pricing structures and alternative fee agreement models that deliver additional value for our clients.

    • Continuing Education

      Advancing professional knowledge and offering credits for attorneys, staff and other professionals.

    • Crisis Advisory

      Helping clients respond correctly when a crisis occurs.

    • DEI Strategic Services

      Providing our clients with legal, strategic, and practical advice to make transformational changes in their organizations.

    • eDiscovery

      Leveraging law and technology to deliver sound solutions.

    • Global Services

      Delivering seamless service through partnerships across the globe.

    • Innovation

      Leveraging leading-edge technology to guide change and create seamless, collaborative experiences for clients and attorneys.

    • IPED

      Industry-leading conferences focused on affordable housing, tax credits, and more.

    • Legal Project Management

      Providing actionable information to support strategic decision-making.

    • Legally Green

      Teaming with clients to advance sustainable projects, mitigate the effects of climate change, and protect our planet.

    • Nixon Peabody Trust Company

      Offering a range of investment management and fiduciary services.

    • NP Capital Connector

      Bringing together companies and investors for tomorrow’s new deals.

    • NP Second Opinion

      Offering fresh insights on cases that are delayed, over budget, or off-target from the desired resolution.

    • NP Trial

      Courtroom-ready lawyers who can resolve disputes early on clients’ terms or prevail at trial before a judge or jury.

    • Social Impact

      Creating positive impact in our communities through increasing equity, access, and opportunity.

    1. Home
    2. Insights
    3. Alerts
    4. HUD issues revised 2022 FMRs for several areasAlerts

    Alert / Affordable Housing Alert

    HUD issues revised 2022 FMRs for several areas

    March 22, 2022

    Share

    By Deborah VanAmerongen

    The revised FMRs will take effect on April 11.

    What’s the Impact?

    • 12 jurisdictions subject to HUD’s FMR revisions
    • These re-evaluations may be more impactful than those undertaken in prior years

    DOWNLOADS

    On March 10, 2022 HUD issued revised FMRs for 12 jurisdictions.

    On August 6, 2021, the Department of Housing and Urban Development (HUD) published the FY 2022 fair market rents (FMRs) and outlined procedures for requesting a re-evaluation of an area's FY 2022 FMR. Twenty-eight jurisdictions applied for a re-evaluation, and 12 were approved.

    The major cities where HUD adjusted the FMRs include Asheville, North Carolina; Boston, Massachusetts; New York, New York; Portland, Maine; Portland, Washington; San Diego and Santa Barbara, California; and Seattle, Washington. By way of example, in New York City, the FMRs were adjusted as follows:

    PREVIOUSLY PUBLISHED FMRS (USD)
    STUDIO 1 BR 2 BR 3 BR 4 BR
    1,900 1,945 2,217 2,805 3,006
    NEWLY PUBLISHED FMRS (USD)
    STUDIO 1 BR 2 BR 3 BR 4 BR
    2,018 2,054 2,340 2,952 3,173

    The publication of FMRs and requests for re-evaluation happens each year. However, as markets have fluctuated dramatically in recent years because of the pandemic, these re-evaluations may be more impactful than those undertaken in prior years. The revised FMRs will take effect on April 11.

    The FMRs are used for rent setting for HUD’s Housing Choice Voucher program, Moderate Rehabilitation Section 8 program and other HUD programs.

    Affordable Housing

    Practices

    Affordable HousingCommunity Development FinanceReal EstateCooperatives & CondominiumsReal Estate FinanceSustainable Development

    Industries

    Real Estate

    Insights And Happenings

    • Alert

      Manhattan DA expands tenant protections with launch of Housing and Tenant Protection Unit

      Oct 17, 2022
    • Press Release

      Nixon Peabody’s Chaundi Randolph elected to ABA Affordable Housing Forum Governing Committee

      Sep 13, 2022
    • Alert

      HR 5376, the Inflation Reduction Act of 2022 signed into law

      Aug 22, 2022

    Subscribe to stay informed of the latest legal news, alerts, and business trends.Subscribe

    • People
    • Capabilities
    • Insights
    • About
    • Locations
    • Events
    • Careers
    • Alumni
    • © 2023 Nixon Peabody. All rights reserved
    • Privacy Policy
    • Terms of Use
    • Statement of Client Rights
    • Supplier Diversity Program
    • Nixon Peabody International LLC
    • PAL