Research has shown that program recipients act rationally and choose units with gross rents close to the FMRs, that is, the best units available under program rules.
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Participants in the voucher program can choose units to live in with gross rents higher than the FMR, but they must pay the full cost of the difference between the gross rent and the FMR, plus 30 percent of their income.įMRs function primarily to control costs. 1 Voucher program households receive a subsidy equal to the difference between the FMR and 30 percent of their monthly incomes. Certificate program households cannot rent units with gross rents exceeding the FMR the recipients receive a subsidy equal to the difference between the gross rent and 30 percent of their incomes. In the certificate program, FMRs set limits on what units can be rented in the voucher program, FMRs set limits on the subsidy provided to the household. This article explains what FMRs are, how they function in these programs, and how HUD calculates them.įMRs play different roles in the certificate and voucher programs.
A key parameter in operating the certificate and voucher programs is the Fair Market Rent (FMR). As of 1997, 1.4 million households held Section 8 certificates or vouchers, which allow them to rent eligible units in the private market and receive rental subsidies from the Federal Government.
Department of Housing and Urban Development (HUD) has helped low-income households obtain better rental housing and reduce the share of their income that goes toward rent through a program that relies on the private rental market.
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