Final FY 2010 Fair Market Rent Documentation System

The Final FY 2010 Ward County FMRs for All Bedroom Sizes

The following table shows the Final FY 2010 FMRs by unit bedrooms.

Final FY 2010 FMRs By Unit Bedrooms
	Efficiency	One-Bedroom	Two-Bedroom	Three-Bedroom	Four-Bedroom
Final FY 2010 FMR	*$413*	*$512*	*$631*	*$872*	*$1,035*

The remainder of this page provides complete documentation of the development of the Final FY 2010 Fair Market Rents (FMRs) for Ward County, North Dakota. This page provides a summary and details of how the Final FY 2010 FMRs were developed and updated starting with the formation of the FY 2010 FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget and incorporating newly available 2007 one and three year American Community Survey (ACS) Data. FY 2010 FMRs include information from local Random Digit Dialing (RDD) surveys conducted during 2008. Aspects of the derivation of Final FY 2010 rents exclusive to FY 2010 are made explicit in the following text. Aspects unchanged from FY 2009 can be reviewed by clicking on the associated link.

The following defines a summary of the steps taken to generate the Final FY 2010 FMR:

Ward County, ND Final FY 2010 FMR Calculation Summary
Process Step	Step Result
1. An RDD was performed in October 2009	$622
2. Apply Appropriate Update Factors to compute Final FY 2010 2BR FMR	$631

Ward County FMR Area Derivation (RECAP)

Ward County, ND is a non-metropolitan county under the new metropolitan area definitions used for the Final FY 2010 FMRs.

Final FY 2010 FMRs

HUD concluded and received the results of an RDD survey in Ward County, ND in October 2009. To determine if the RDD result is statistically different from the FY2010 rent originally calculated, HUD inflates the 2-bedroom survey result of $622 to the mid-point of the 2010 fiscal year to compare to the original rent. Since the survey was completed in October 2009, HUD adds 6 months of trending to arrive at $631.

Next, HUD compares this forwarded trended RDD result to the original FMR and if the FMR is outside the confidence interval of the RDD rent, the RDD rent becomes the FMR for the area. The following table summarizes the decision to use the RDD Result:

October 2009 RDD Evaluation for Ward County, ND
Original FY 2010 FMR	April 2010 Trended RDD Result	RDD Error	Decision
$518	$631	±$23	Is ABS($518-$631)>$23 Is $113>$23 YES RDD Result Used

Following application of the RDD result, the Final FY 2010 2-Bedroom FMR is simply the RDD result trended forward from October 2009 to April 2010. Specifically, the Final FY 2010 FMR is:

$622 x 1.03^(6/12)

$622 x 1.0150

$631

This RDD based FMR will be updated annually using CPI and trending until data more recent than the RDD become available. In the case of Ward County, ND, the 2010 ACS data, currently scheduled for release during the the latter part of 2011, will be more recent than the RDD data. Based on current information, the 2010 ACS survey data will serve as the basis for FY2013 FMRs.

The Final FY 2010 Rents for All Bedroom Sizes

The following table shows the Final FY 2010 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 2010 2-Bedroom FMR to determine the Final FY 2010 FMRs for the different size units.

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

Final FY 2010 FMRs By Unit Bedrooms
	Efficiency	One-Bedroom	Two-Bedroom	Three-Bedroom	Four-Bedroom
Final FY 2010 FMR	$413	$512	$631	$872	$1,035

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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