Final FY 2006 Fair Market Rent Documentation System

Final FY 2006 FMR Summary for Green Bay%2C WI HUD Metro FMR Area

This system provides complete documentation of the development of the Final FY 2006 Fair Market Rents (FMRs) for Green Bay%2C WI HUD Metro FMR Area. This page provides a summary of how the final FY 2006 FMRs were developed and updated starting with the formation of the final FY 2006 FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the 2000 Census benchmark, incorporating information from Revised Final FY 2005 FMRs, and updating to FY 2006 including information from local Random Digit Dialing (RDD) survey data. Click on links in the tables below to see more detail on how the data were developed.

This system now includes changes in FY 2006 FMRs made by the February 14, 2006 final notice on 50th Percentile FMR status under the 50th Percentile FMR regulations (see: http://www.huduser.gov/datasets/fmr/fmr2006r/FedPreamble.pdf), the results of recent RDD surveys and special adjustments for New Orleans and Baton Rouge FMR areas announced March 6, 2006 (see: http://www.huduser.gov/datasets/fmr/fmr2006r/FedRegNotice.pdf), as well as the results of re-evaluation of RDD survey results in Puerto Rico published June 2, 2006 (see: http://www.huduser.gov/datasets/fmr/fmr2006r/FY2006_PR_Notice.pdf).


Final FY 2006 FMR Area Geography and 2000 Census Base Rent

In establishing final FY 2006 FMR areas, HUD examines the new metropolitan areas to see if and how they differ from FY 2005 FMR areas. If a new metropolitan area differs from the old FMR area(s) covering the same geography, HUD checks the 2000 Census 40th Percentile Base Rents for each part of the new metropolitan area that was previously in a different old FMR area against the 2000 Census 40th Percentile Base Rent for the entire new area. On these pages, the parts of the new metropolitan areas that were previously in different old FMR areas are referred to as "Evaluated Metro FMR Areas."

If any of the Evaluated Metro FMR Areas in a new metropolitan area have 2000 Census 40th Percentile Base Rents that differ from the 2000 Census 40th Percentile Base Rent of the entire area by at least 5 percent, HUD establishes them as separate "HUD Metro FMR Areas" within the new metropolitan area and assigns them their own 2000 Census Base Rent.

Any Evaluated Metro FMR Area with a 2000 Census 40th Percentile Base Rent that does not differ from the entire metropolitan area 2000 Census 40th Percentile Base Rent by at least 5 percent gets the 2000 Census Base Rent for the entire metropolitan area. If there is more than one such Evaluated Metro FMR Area in a metropolitan area, all Evaluated Metro FMR Areas assigned the metropolitan area 2000 Census Base Rent are treated as a single FMR area. Unless such "recombined" areas constitute the entire new metropolitan area however, they are also renamed as "HUD Metro FMR Areas" because such FMR areas are not the same geography as the official OMB metropolitan area definitions.

For example, suppose a new metropolitan area consists of an old FMR area, half of another old FMR area, and a formerly nonmetropolitan county. HUD would evaluate the 2000 Census 40th Percentile Base Rents for each of the three parts (Evaluated Metro FMR Areas) that comprise the new area against the 2000 Census Base 40th Percentile Rent for the entire new area.

If none of the three evaluated areas has a 2000 Census 40th Percentile Base Rent that differs from the entire new metropolitan area 2000 Census 40th Percentile Base Rent by at least 5 percent, then the new metropolitan area is undivided and serves as a final FY 2006 FMR area in its entirety.

Suppose the Evaluated Metro FMR Area consisting of half of an old FMR area has a 2000 Census 40th Percentile Base Rent that differs from the entire metropolitan area's 2000 Census 40th Percentile Base Rent by more than 5 percent. Then HUD establishes two "HUD Metro FMR Areas": one consisting of the half of the old FMR area and assigned its own 2000 Census Base Rent, and the other consisting of the combination of the other old FMR area and the formerly nonmetropolitan county.

Green Bay, WI HUD Metro FMR Area is made up of the following:

Brown County, WI; and Kewaunee County, WI.

The Green Bay, WI HUD Metro FMR Area is a HUD-defined metropolitan FMR area that is part of the Green Bay, WI MSA, but differs because some other part of the Green Bay, WI MSA has a 2000 Census 40th Percentile Base Rent that differs from the official metropolitan area's 2000 Census 40th Percentile Base Rent by at least 5 percent.

The 2000 Census 40th Percentile Base Rent for Green Bay, WI Evaluated Metro FMR Area ($523) does not differ from the 2000 Census 40th Percentile Base Rent for Green Bay, WI MSA ($518) by at least 5 percent:

($523 / $518) - 1 = 1.010 - 1 = 1.0 percent < 5.0 percent.

Therefore, HUD assigns Green Bay, WI HUD Metro FMR Area the 2000 Census Base Rent of Green Bay, WI MSA for purposes of computing the final FY 2006 FMRs.

Green Bay, WI HUD Metro FMR Area has a 2000 Census Base Rent of $518. 2005


Computing the 2000-to-2005 Update Factor and 2005 Intermediate Rent

The table below displays the parts of the new Green Bay, WI HUD Metro FMR Area that were in different FY 2005 FMR areas. The parts of old FMR Areas indicated by "*" in the table had insufficient recent mover rent samples to set an individual FMR, so they were combined into the Green Bay, WI HUD Metro FMR Area.

HUD uses a population weighted average of the change in rents between the 2000 Census Base Rents and the Revised Final FY 2005 FMRs for the different FY 2005 FMR Areas represented in the FY 2006 area to update the FY 2006 area's 2000 Census Base Rent to 2005. The table includes the data used to compute the population weighted average update factor. Links in the table show how the Revised Final FY 2005 FMRs were developed.

Parts of Green Bay, WI HUD Metro FMR Area from Different FY 2005 FMR Areas
FY 2005 FMR Area Components of Green Bay, WI HUD Metro FMR Area in FY 2005 FMR Area 2000 Population FY 2005 FMR Area Data
2000 Census Base Rent Revised Final FY 2005 FMR 2000-to-2005 Update Factor
Green Bay, WI MSA Brown County, WI 226,778 $527 $587 $587 / $527
= 1.1139
Kewaunee County, WI* Kewaunee County, WI 20,187 $441 $492 $492 / $441
= 1.1156

*Indicates parts of Green Bay, WI HUD Metro FMR Area in these FY 2005 FMR areas that have an insufficient 2000 Census 2-bedroom recent mover renter sample size (fewer than 200) for their own final FY 2006 FMR.

As noted above, the 2000-to-2005 update factor for Green Bay, WI HUD Metro FMR Area is a population weighted average of the change in rents between the 2000 Census Base Rents and the Revised Final FY 2005 FMRs for the parts in different FY 2005 FMR areas. It is computed by: (1) multiplying the change factors from each part of Green Bay, WI HUD Metro FMR Area in a different FY 2005 FMR area by the corresponding 2000 Census populations of these parts, (2) summing these products, and (3) dividing the sum by the total population of Green Bay, WI HUD Metro FMR Area.

2000-to-2005 Update Factor for Green Bay, WI HUD Metro FMR Area

= (1.1139 x 226,778 + 1.1156 x 20,187 ) / 246,965

= (252,597.13 + 22,521.55 ) / 246,965

= (275,118.68) / 246,965 = 1.1140

The 2005 Intermediate Rent for 2-Bedroom units is used in the computation of the bedroom ratios that are applied to the Final FY 2006 2-Bedroom FMR to yield the other bedroom-unit FMRs. The 2005 2-Bedroom Intermediate Rent is simply the 2000 Census 2-Bedroom Base Rent times the 2000-to-2005 update factor:

2005 2-Bedroom Intermediate Rent for Green Bay, WI HUD Metro FMR Area

= $518 x 1.1140 = $577


The 2005-to-2006 Update Factor

The Green Bay, WI HUD Metro FMR Area 2005-to-2006 Update Factor of 1.0219 is based on a regional CPI factor.


Final FY 2006 2-Bedroom FMR

The Final FY 2006 2-Bedroom FMR is simply the product of the 2000 Census Base Rent, the 2000-to-2005 Update Factor and the 2005-to-2006 Update Factor for Green Bay, WI HUD Metro FMR Area as determined above:

Green Bay, WI HUD Metro FMR Area Final FY 2006 FMR

= $518 x 1.1140 x 1.0219 = $577 x 1.0219 = $590


The Final FY 2006 FMRs for All Bedroom Sizes

The following table shows the Final FY 2006 FMRs by unit bedrooms. The FMRs for units with different numbers of bedrooms are computed from the ratio of the 2005 Intermediate Rents for the different unit sizes to the 2005 2-Bedroom Intermediate Rent. These Rent Ratios are applied to the Final FY 2006 2-Bedroom FMR to determine the Final FY 2006 FMRs for the different size units.

The 2005 Intermediate Rents for different size units are computed from 2000 Census Base Rents that are updated to 2005 using the 2000-to-2005 update factors for each unit size derived from the Revised Final FY 2005 FMRs for the old FMR areas that contained Green Bay, WI HUD Metro FMR Area.

Click on the links in the table to see how the bedroom rents were derived.

Final FY 2006 FMRs By Unit Bedrooms
  Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
Final FY 2006 FMR $458 $468 $590 $830 $855


Data file last updated Tue., Oct 10, 2006.


Other HUD Metro FMR Areas in the Same MSA


Change Your Geographic Selections

:

or

: