As housing costs rise, HUD increases its estimate for Orlando’s Fair Market Rent by 14%
The U.S. Department of Housing and Urban Development is increasing by nearly 14% the amount of monthly rent and utilities it will subsidize for Orlando families with its housing choice vouchers.
HUD’s Fair Market Rent for a two-bedroom apartment in the Orlando area will increase to $1,616 beginning next month.
That reflects a steep increase in the cost of low-end housing and utilities.
Nationwide, Fair Market Rent increased by 10%. But it’s higher in some metros, like 33% in Phoenix, 23% in Tampa and 15% in Miami.
HUD says sharply rising rents have made it hard for the seniors in need, disabled people and very low-income families with vouchers to find apartments with participating owners.
The Orlando Housing Authority administers nearly 2,500 housing choice vouchers but has a waiting list of about 5,800, according to its most recent annual plan.
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