The Department of Housing and Urban Development said that fair market rents for fiscal year 2024 will rise about 12 % nationwide and that the department has increased funding for housing choice vouchers.
The department is establishing an average increase for fair market rents in fiscal year 2024 of about 12% nationwide. The increase, which goes into effect Oct. 1, sets a higher level for the maximum payments for beneficiaries of housing vouchers, allowing them to keep up with rising rents in more competitive rental markets, HUD said in an announcement obtained first by NBC News.
HUD also will release $113 million next week in housing choice voucher funds for public housing agencies in 36 states, which aims to help about 9,500 additional households, the department said. “When rents go up, obviously, the money that has been provided to [public housing authorities] doesn’t go as far, so these funds are going to augment that,” said Richard Monocchio, head of public and Indian housing at HUD.The new aid will give tenants"more choice of where they can live, the neighborhoods that they can live in," Monocchio said.Landlords are raising rents across the U.S., and prices are up significantly in cities like New York and Los Angeles.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2 Tribally-owned affordable housing projects net $7.5 million boost from HUD grantsDuring a visit to Kenai, HUD Secretary Marcia L. Fudge announced that the Kenaitze/Salamatof Tribally Designated Housing Entity will receive the grant as part of a larger $128 million effort to invest in affordable housing for Tribal communities.
Read more »
Denver affordable housing facility first to receive project-based housing vouchersA new affordable housing facility in Denver will be the first to receive project-based housing vouchers.
Read more »
Ohio Senate forms new Housing Committee as constituents spend increasingly more on housing costsHigh rents, property tax, and lack of housing are some of the issues the chair of the new Ohio Senate Housing Committee said she will start tackling.
Read more »
HUD releases new aid for low-income families to keep up with rising rentsThe Department of Housing and Urban Development said that fair market rents for fiscal year 2024 will rise about 12 % nationwide and that the department has increased funding for housing choice vouchers.
Read more »
National fair rent update to help affordable housing marketThe U.S. Department of Housing and Urban Development announced an additional $113 million in Housing Choice Vouchers to assist families in meeting rising rent costs.
Read more »
National fair rent update to help affordable housing marketThe U.S. Department of Housing and Urban Development announced an additional $113 million in Housing Choice Vouchers to assist families in meeting rising rent costs.
Read more »