2017-11-09 HHFDC Fair Market Rent survey -- press release

Home

HAWAI‘I HOUSING FINANCE AND DEVELOPMENT CORPORATION DAVID Y. IGE GOVERNOR CRAIG K. HIRAI EXECUTIVE DIRECTOR Phone: (808) 587-0641 For Immediate Release: November 10, 2017 Survey Gathering Data on Rents on Oahu and Hawaii Island HONOLULU – SMS Research & Marketing Services will be surveying families on Oahu and Hawaii Island on what they are paying for rent. The Hawaii Housing Finance and Development Corporation (HHFDC), Hawaii Public Housing Authority, and Counties of Honolulu and Hawaii have commissioned the survey. The U.S. Department of Housing and Urban Development (HUD) annually publishes Fair Market Rents based on data from the U.S. Census. HUD’s Fair Market Rents are used to set pricing for many federally subsidized programs, including Section 8 Housing Choice Vouchers, that help low-income families obtain and keep safe, decent and sanitary housing. Proposed HUD 2018 Fair Market Rents will decrease from 2017. “Voucher holders already have a difficult time finding safe, decent and affordable rentals within the range of HUD Fair Market Rents. Decreasing Fair Market Rents will worsen the situation especially in high rent areas such as West Hawaii,” said Neil Gyotoku, Hawaii Island Housing Administrator. The information collected will be used to support the State’s request to HUD to re- evaluate the 2018 Fair Market Rents for Oahu and Hawaii Island. “HUD’s Fair Market Rents are also used to determine Difficult to Develop Areas (DDAs) under the Low-Income Housing Tax Credit Program,” said Craig K. Hirai, executive director of HHFDC. Rental housing projects located in a DDA can receive additional tax credits, and therefore, increase financial feasibility.” The rent surveys will be mailed to selected households and be short. Non-renters need only answer one question, but the agency is asking everyone to answer the survey for