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On Sept. 30, HUD released its final fair market rents (FMRs), which are used in the determination of area median family income and their associated income limits, for fiscal year (FY) 2012. They took effect Oct. 1. HUD uses FMRs to determine payment standard amounts for the Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and initial rents for certain housing assistance payments contracts.
