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Data Dictionary: Small Area Fair Market Rent 2020
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Data Source: Social Explorer; U.S. Department of Housing and Urban Development
Universe: none
Variable Details
T001. Small Area Fair Market Rent 2020
Universe: none
T001_003Small Area Fair Market Rent - Two Bedrooms
Percent base:
None - percentages not computed
Aggregation method:
None -- No totals are displayed for this variable when multiple geographies are selected
Formula used to compute this variable:
#ReturnType oretval = new #ReturnType(); oretval = ORG:SAFMR2020_001_SAFMR2BR; return oretval;
Variables used in the formula:
ORG:SAFMR2020_001_SAFMR2BR
Small Area Fair Market Rent - Two Bedrooms
Relevant Documentation:
Excerpt from: Federal Register / Vol. 81, No. 221 / Wednesday, November 16, 2016 / Rules and Regulations, Department of Housing and Urban Development
  Small Area Fair Market Rents Documentation -> Summary
Small Area Fair Market Rents Documentation
Summary
This final rule applies the use of Small Area Fair Market Rents (Small Area FMRs) in the administration of the Housing Choice Voucher (HCV) program for certain metropolitan areas. This final rule provides for the use of Small Area FMRs, in place of the 50th percentile rent, the currently codified regulations, to address high levels of voucher concentration in certain communities. The use of Small Area FMRs is expected to give HCV tenants access to areas of high opportunity and lower poverty areas by providing a subsidy that is adequate to cover rents in those areas, thereby reducing the number of voucher families that reside in areas of high poverty concentration.