Home / Press Room / Press Releases / HUD No. 23-186
 
  
 

HUD No. 23-186
HUD Public Affairs
(202) 708-0685
FOR RELEASE
Thursday
August 31, 2023

HUD Updates Fair Market Rents; Makes $113 Million Available in Affordable Housing Vouchers

Department increases Fair Market Rents by 12 percent on average across the U.S., releases vouchers to 36 states to help more families afford housing


WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) announced two actions that together will enable more families to rent a healthy, stable home at an affordable cost: publishing Fair Market Rents (FMRs) for Fiscal Year (FY) 2024 and releasing an additional $113 million in Housing Choice Vouchers to public housing agencies to help 9,500 families to meet these growing costs.

"Housing choice vouchers are some of the strongest tools we have to help families find stable and affordable housing," said HUD Secretary Marcia L. Fudge. "This year, HUD found that rents rose once again, accentuating the strain on costs for American families. These updated Fair Market Rents and our funding will ensure households can utilize vouchers in a competitive rental market."

First, the Office of Policy Development and Research (PD&R) published Fair Market Rents (FMRs) for FY 2024, which helps to determine the maximum amount a Housing Choice Voucher will cover. Nationally, FMRs will increase by an average of approximately 12 percent, which will increase the number of units that families using housing vouchers can access.

"Increases in Fair Market Rents help families find homes of their choosing in competitive housing markets,” said Solomon Greene, Principal Deputy Assistant Secretary for Policy Development and Research. “This year we are continuing improvements we made last year to how we calculate Fair Market Rents to make sure they are keeping up with rising rents. We’ve already seen these improvements help more voucher holders find housing that is affordable, and we expect these new updates will help even more families."

The Office of Public and Indian Housing (PIH) also announced an additional $113 million in Housing Choice Voucher funding awards for 118 high-performing public housing agencies in 36 states. These funds will enable these agencies to provide rental assistance to 9,500 additional households in the coming year.

“We want to make sure communities have the tools they need to help families lease homes,” said Richard J. Monocchio, Principal Deputy Assistant Secretary for Public and Indian Housing. “The additional funding we are awarding to housing authorities today helps these agencies that are already maximizing funds to house as many families as possible.”

Click here to view the FY24 FMRs. FAQs on the FY24 FMRs are available here.

The Housing Choice Voucher program enables families to afford rental units in the private market. Given recent rental cost increases, families who receive vouchers are experiencing greater difficulty successfully using their vouchers to find affordable, safe, and quality housing. The new FMR levels announced today – on top of an approximately 10 percent increase nationally in FY 2023 – will help the voucher program keep up with rent increases in the private market, expand the number of affordable units, and help more families rent homes at an affordable cost.

Housing Choice Vouchers are a key element of the Biden-Harris Administration’s strategy to reduce homelessness and provide American families with tangible resources to address rising living costs. Since entering office, the Biden-Harris Administration has awarded more than 100,000 new housing vouchers to help more families afford a healthy, stable place to rent.

Today’s voucher allocations are listed here by state:


State

Amount

AL

 $493,221

AR

 $81,106

AZ

 $2,252,079

CA

 $36,998,830

CO

 $1,735,957

FL

 $766,113

IA

 $130,217

IL

 $1,142,724

IN

 $1,284,985

KS

 $291,302

LA

 $1,301,054

MA

 $1,212,802

MD

 $1,070,592

ME

 $21,790

MI

 $713,453

MN

 $541,748

MO

 $425,427

NC

 $156,213

ND

 $1,293,346

NJ

 $3,130,719

NM

 $481,183

NY

 $1,887,884

OH

 $29,292

OK

 $2,471,861

OR

 $2,012,751

PA

 $4,647,875

RI

 $446,364

PR

 $25,962

SC

 $96,338

TN

 $432,579

TX

 $33,794,190

UT

 $1,696,376

VA

 $4,486,598

WA

 $2,619,697

WI

 $2,255,077

WV

 $145,092

TOTAL

 $112,572,797


###

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available at www.hud.gov and https://espanol.hud.gov.

You can also connect with HUD on social media and follow Secretary Fudge on Twitter and Facebook or sign up for news alerts on HUD's Email List.

HUD COVID-19 Resources and Fact Sheets

Learn More About HUD's Property Appraisal and Valuation Equity Work