The agency also announced its annual increases in fair market rates, which determine the value of housing assistance vouchers.
Compared on a national scale, the 2010s decade saw a nationwide average annual increase of around 4%, according to the department. Rates are adjusted annually, and the changes for the 2024 fiscal year go into effect on Oct. 1, 2023. The adjustment means more housing units will fall within the maximum rental limits for the voucher program, which should allow more households to qualify for voucher assistance.
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