 |
Rent Determination
Fair Market Rents and
Payment Standards 2008
|
|
|
0 |
$537 |
$595 |
1 |
$612 |
$678 |
2 |
$746 |
$826 |
3 |
$978 |
$1,083 |
4 |
$1,050 |
$1,162 |
5 |
$1,208 |
$1,337 |
6 |
$1,365 |
$1,511 |
7 |
$1,523 |
$1,685 |
8 |
$1,680 |
$1,860 |
As of October 1, 2008 |
HUD requires that HCVP rents be "reasonable." CMHA monitors the rental market and establishes average gross rents for each sub-market within Cuyahoga County.
- Each housing unit proposed for contract is rated by an HCVP inspector relative to its location. The HUD defined "Fair Market Rent" (FMR) determines maximum subsidy, but not reasonable rent.
- Reasonable gross rent less allowances for tenant-paid utilities
equals reasonable rent.
- The Housing Assistance Payment (HAP) is the difference between
the contract rent and tenant's share of rent
(Tenant Rent).
- The tenant may not pay more than 40% of his/her adjusted income
toward the rent in the initial year of the contract.
Utility Allowances 
Download
Adobe Reader from Adobe's Web site now
|