HUD's rent standards across the Philadelphia metropolitan area will increase more than 13%, or $172, from fiscal year 2022.
Darlene Foreman, a representative with Tenant Resident Council, throws water into the air during a protest at 38th and Market Street objecting to the sale of the nearby University City Townhomes. Residents of the subsidized housing development are getting vouchers to help pay rent elsewhere, but finding rentals that accept vouchers can be difficult. HUD is increasing the value of vouchers to help.
Nationwide, the department’s definition of fair market rents will increase by an average of about 10%. And in the Philadelphia region, the values are rising even more. “One of the reasons that housing voucher holders are unable to use those vouchers is because the value of their vouchers has not kept up with rapid rent increases,” HUD Secretary Marcia L. Fudge said in a statement. “These new [fair market rents] will make it easier for voucher holders facing this challenge to access affordable housing in most housing markets, while expanding the range of housing opportunities available to households.
HUD’s fair market rents are hyper local and vary by zip code to account for massive variations in prices within and among cities and towns.
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