Section 8 Housing Assistance Payments Program-Fiscal Year (FY) 2024 Inflation Factors for Public Housing Agency (PHA) Renewal Funding
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Issuing agencies
Abstract
This notice establishes Renewal Funding Inflation Factors (RFIFs) to adjust Fiscal Year (FY) 2024 renewal funding for the Housing Choice Voucher (HCV) Program of each public housing agency (PHA), as required by the Consolidated Appropriations Act, 2024. The notice apportions the expected percent change in national Per Unit Cost (PUC) for the HCV program, 7.38 percent, to each PHA based on the change in Fair Market Rents (FMRs) for their operating area to produce the FY 2024 RFIFs. HUD's FY 2024 methodology differs in part from that used in FY 2023. HUD has refined the national PUC forecast by changing the gross rent component in a manner that weights projected recent mover rents as measured by the FMR with an independent forecast of all-mover rents as measured by the Consumer Price Index (CPI).
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