Updated Median Gross Rents by Zip Code Now Available
Wednesday, January 24, 2018
From RHIIP Listserv
Posting #403
Updated Median Gross Rents by Zip
Code are Now Available on the Section 8 Renewal Policy Site on
hud.gov.
Median Gross Rents are used to determine when HUD will procure a
third party rent comparability study (RCS) in
conjunction with Sec. 8 PBRA rent setting. Section 9-14 of the Section 8 Renewal Policy Guide provides instructions for comparing
the median rents as derived by an owner’s appraiser in a RCS with Census Bureau estimates of the median rents in the
project's zip code. When the median rent in the owner's study exceeds 140
percent of the median gross rent by zip code, then HUD must commission a third
party RCS for comparison purposes.
The new median gross rents will be effective for any RCS signed by
the owner's appraiser on or after February 11, 2018.