WORD OF THE DAY

Fair Market Rent (FMR)

The maximum gross rent that can be covered by government subsidies for HUD Section 8 housing in a particular area. This can also be used to determine tax rates in appraisal districts.

Source: Danter
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> Fair Market Rent (FMR)

WORD OF THE DAY

Housing Choice Voucher

As the largest part of the Section 8 program, it is used to assist low-income families and the elderly or disabled pay for housing.  These vouchers are administered at the local level by a city’s Public Housing Authority (PHA) to find suitable housing for tenants. Vouchers pay rent directly to landlords.

Source: Danter
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> Housing Choice Voucher

WORD OF THE DAY

Utility Allowance

HUD guideline managed by local Public Housing Authorities that defines the “Total Resident Payment” for low-income tenants living in subsidized housing.  These allowances are for basic utilities such as propane, natural gas, electricity, water & sewer, and garbage collection.

Source: Danter
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> Utility Allowance
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