The notice from the Department of Housing and Urban Development (HUD) announces the Annual Adjustment Factors (AAFs) for fiscal year 2025, which are used to adjust contract rents for units under certain Section 8 housing assistance programs. These adjustments are based on changes in residential rent and utility costs. The AAFs, which help ensure rents keep up with market changes, are applied to contracts on their anniversary dates. Different Section 8 programs have specific guidelines on how to apply these adjustments, which involve either Tables 1 or 2 that indicate whether utilities are included in the rent. The notice also outlines the methodology for calculating these factors using various data sources, such as the Consumer Price Index and private rent data.
Simple Explanation
In the notice, the U.S. government explains that every year it updates how much help it gives to people and owners in special housing programs to make sure they can still afford to pay for homes, as prices change. They check how much people usually pay for rent and utilities and use that information to make these changes fair and accurate.