HUD published its fiscal year 2018 inflation factors and the calculation of such factors for public housing agency renewal funding in the Federal Register on May 30, 2018, and included a request for comment regarding alternate methods for analyzing local rent changes used in the calculation of Renewal Funding Inflation Factors.
The Consolidated Appropriations Act of 2018 requires HUD to adjust fiscal year 2018 renewal funding for the Housing Choice Voucher program of each public housing agency based on certain renewal funding inflation factors by allocating the expected percent change in national per unit cost for the Housing Choice Voucher program to each public housing agency based on the change in fair market rents for their operating area.
HUD used the same methodology in 2018 to adjust the fiscal year renewal funding as it used in 2017. However, in its publication to the Federal Register, HUD is requesting comment on possible ways to change the calculation of the renewal funding inflation factors related to the use of ad hoc surveys conducted for purposes of reevaluating fair market rents and their effect on the calculation of renewal funding inflation factors.
Comments on alternate ways to calculate local rent changes used in the calculation of renewal funding inflation factors are due June 29, 2018.
More information on the fiscal year 2018 inflation factors for Public Housing Agency renewal funding can be found here.