Excerpt: “Small Area Fair Market Rents (SAFMRs) are the Department of Housing and Urban Development’s (HUD) calculation of fair market rents for zip codes. Normally, HUD sets one fair market rent (FMR) for a large geographic region, resulting in a subsidy level that often does not match local rents. HUD’s use of large geographic areas to set FMRs makes it harder for families to rent outside low-rent neighborhoods.”
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