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Final FY 2009 Fair Market Rent Documentation System -- Summary for White County,

Final FY 2009 Fair Market Rent Documentation System

The Final FY 2009 White County FMRs for All Bedroom Sizes

The following table shows the Final FY 2009 FMRs by unit bedrooms.

Final FY 2009 FMRs By Unit Bedrooms
	Efficiency	One-Bedroom	Two-Bedroom	Three-Bedroom	Four-Bedroom
Final FY 2009 FMR

The remainder of this page provides complete documentation of the development of the Final FY 2009 Fair Market Rents (FMRs) for White County, . This page provides a summary of how the Final FY 2009 FMRs were developed and updated starting with the formation of the FY 2009 FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget and incorporating newly available 2006 American Community Survey (ACS) Data. FY 2009 FMRs include information from local Random Digit Dialing (RDD) surveys conducted during the first quarter of 2008. Aspects of the derivation of Final FY 2009 rents exlusive to FY 2009 are made explicit in the following text. Aspects unchanged from FY 2008 can be reviewed by clicking on the associated link.

White County FMR Area Derivation (RECAP)

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Final FY 2009 FMRs

HUD continues its use of ACS data in FY 2009, by building upon the FY 2008 Final FMRs (White County FY 2008 FMR Documentation system). As in FY 2008, HUD uses 2006 ACS data in four different ways according to how many two-bedroom standard quality and recent mover sample cases are available in the FMR area or its Core-Based Statistical Area (CBSA). ACS-1 through ACS-4 areas are described in detail here.

In most cases, Final FY 2009 FMRs are based on changes in rents measured by differences in ACS data collected in 2005 and 2006 and updated CPI rent and utility inflation indexes. Depending on the size of the ACS survey sample, State or Local ACS data is used to update a June 2005-calculated gross rent from the Final FY 2008 FMRs (White County FY 2008 FMR Documentation system) to June 2006. In some cases, as described below, the 2006 ACS Survey result is used instead of a 2005 to 2006 updated value. The ACS updated 2006 rent is then adjusted with CPI inflation factors that measure changes from mid-2006 though year end 2007 and 1.25 years of trending to arrive at Final FY 2009 FMRs. RDD survey results are applied where available and appropriate.

is an ACS-0 area.

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Generating a June, 2005 Rent from FY 2008 Final FMRs

In order to apply 2005 to 2006 ACS changes to FMRs (ACS data are assumed to be as of June of their respective survey years), FY 2008 FMRs are first deflated to mid-2005 values by removing the CPI inflation and trend factors used to update mid-2005 values to April, 2008 inherint in the Final FY 2008 FMRs. (White County FY 2008 FMR Documentation system.)

Rent₂₀₀₅

Final FY 2008 Rent

(CPI Change₂₀₀₅)^.5 x (CPI Change₂₀₀₆) x (Trend)

Rent₂₀₀₅

()^.5 x () x ()

Rent₂₀₀₅

() x () x ()

Rent₂₀₀₅

(

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) x ()

Rent₂₀₀₅

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Rent₂₀₀₅ =

The 2005 to 2006 Update Factor using 2006 ACS Data

As stated earlier, is an ACS-0 area. is large enough to have a 2006 ACS survey that contains at least 200 Recent Mover cases. Therefore, HUD compares the 2005 to 2006 updated rent using the change in Standard Quality Rents from the 2005 to the 2006 ACS for the to the 2006 ACS Recent Mover survey result. If the 2006 Updated rent using the standard quality update factor is outside the confidence interval of the recent mover rent and the recent mover rent is larger than the local standard quality rent, then the 2006 Intermediate Rent is set at the 2006 ACS recent mover survey result. If the 2006 recent mover rent is smaller than the 2006 standard quality rent for then the 2006 Intermediate Rent is set at the 2006 ACS standard quality survey result. Otherwise, the 2006 intermediate rent is set using the standard quality update factor calculated for .

The 2005 to 2006 standard quality update factor for is . The 2005 to 2006 updated rent for comparison is x = .

The 2006 ACS Standard Quality survey result for is with a survey error of ±.

The following table summarizes the decision criteria for using the 2006 ACS survey rent result for :

2006 Local ACS Survey Rent for
Rent₂₀₀₅	Local SQ Update Factor	SQ Updated 2006 Rent	ACS Survey Local Recent Mover Rent	ACS Survey Confidence Interval	Is SQ-updated Local Rent outside confidence Interval of SQ Rent?	ACS Survey Local Standard Quality Rent	2006 Basis	2006 Intermediate Rent
		ODBscript Error: Non-numeric expression: (null) * (null) [Error in file 2009summary.odn line 1352]		ODBscript Error: Non-numeric expression: (null) - (null) [Error in file 2009summary.odn line 1354] - ODBscript Error: Non-numeric expression: (null) + (null) [Error in file 2009summary.odn line 1354]	YES - survey estimate is statistically significant	- Recent Mover Rent Higher	2006 ACS Survey Local Standard Quality Result

This yields an effective 2005 - 2006 change factor for of / =

NOTE: The update factor shown in the calculation above may not match exactly the 2005 - 2006 update factor shown throughout the demonstration due to the rounding of Fair Market Rents to whole dollar amounts

The 2006-to-2009 Update Factors

HUD updates the 2006 itermediate rent (as of June 2006) with the appropriate CPI change (local or regional) to establish rents as of December 2007. HUD then applies additional trending or results of Random Digit Dialing (RDD) surveys to update rents to April, 2009, the mid-point of FY 2009.

The has the following 2006-to-2009 Update Factor:

Update Factors used between June 2005 and April 2008
Year	Update Factor	Type	Local RDD Completed?	Local RDD Used?
6/2006 to 2007		Local CPI Factor	No	No
2007 to 2009		Trend Factor 3% for 1.25 Years =1.03^1.25	No	No

Final FY 2009 2-Bedroom FMR

The Final FY 2009 2-Bedroom FMR is simply the product of the 2005 Rent from deflated from FINAL FY 2008 FMRs, the 2005-to-2006 Update Factor and the 2006-to-2009 Update Factors for as determined above:

Final FY 2009 FMR

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The Final FY 2009 Rents for All Bedroom Sizes

The following table shows the Final FY 2009 FMRs by unit bedrooms. The FMRs for units with different numbers of bedrooms are computed from the ratio of the 2005 Revised Final FMRs (based on 2000 Decennial Census Data) for the different unit sizes to the 2005 2-Bedroom Revised Final FMRs. These Rent Ratios are applied to the Final FY 2009 2-Bedroom FMR to determine the Final FY 2009 FMRs for the different size units.

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

Final FY 2009 FMRs By Unit Bedrooms
	Efficiency	One-Bedroom	Two-Bedroom	Three-Bedroom	Four-Bedroom
Final FY 2009 FMR	ODBscript Error: Non-numeric expression: (null) * (null) [Error in file 2009summary.odn line 1823]	ODBscript Error: Non-numeric expression: (null) * (null) [Error in file 2009summary.odn line 1824]		ODBscript Error: Non-numeric expression: (null) * (null) [Error in file 2009summary.odn line 1826]	ODBscript Error: Non-numeric expression: (null) * (null) [Error in file 2009summary.odn line 1827]
Unadjusted Rent Ratio
State Minimum-Based Final FY 2009 FMR

The FMRs for unit sizes larger than four bedrooms are calculated by adding 15 percent to the four bedroom FMR, for each extra bedroom. For example, the FMR for a five bedroom unit is 1.15 times the four bedroom FMR, and the FMR for a six bedroom unit is 1.30 times the four bedroom FMR. FMRs for single-room occupancy units are 0.75 times the zero bedroom (efficiency) FMR.

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