Multifamily Assistance Section 8 Contracts
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The information regarding the Multifamily Assistance and Section 8 contracts, and properties is being furnished for the convenience of interested parties. The information has been compiled from multiple data sources within FHA or its contractors. This information does not purport to be complete or all inclusive. No representation or warranty, express or implied, as to any of the information contained in these files is made by HUD, FHA or any of their respective contractors, representatives or agents, or any officer, Director, employee, or any of the above.
FHA Single Family REO Properties For Sale
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This service provides data on Federal Housing Administration (FHA) single family, Real Estate Owned (REO) properties that are up for sale. The U.S. Department of Housing and Urban Development's Real Estate Owned (REO) properties are the result of the Federal Housing Administration (FHA) paying a claim to a lending institution on a foreclosed property which was financed with an FHA Insured Mortgage, and the lender has transferred ownership of the property of to HUD. Typically, title to the property is not transferred (or the claim paid) until the previous owner is evicted from the property. Normally, after the home is transferred to HUD, the property will go up for auction on the HUD Home store website.
Multifamily Properties
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This dataset denotes HUD subsidized Multifamily Housing properties excluding insured hospitals with active loans. HUD’s Multifamily Housing property portfolio consist primarily of rental housing properties with five or more dwelling units such as apartments or town houses, but can also include nursing homes, hospitals, elderly housing, mobile home parks, retirement service centers, and occasionally vacant land. HUD provides subsidies and grants to property owners and developers in an effort to promote the development and preservation of affordable rental units for low-income populations, and those with special needs such as the elderly, and disabled. The portfolio can be broken down into two basic categories: insured, and assisted. The three largest assistance programs for Multifamily Housing are Section 8 Project Based Assistance, Section 202 Supportive Housing for the Elderly, and Section 811 Supportive Housing for Persons with Disabilities. The Multifamily property locations represent the approximate location of the property. The locations of individual buildings associated with each property are not depicted here.
50th Percentile Rent Estimates
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Rent estimates at the 50th percentile (or median) are calculated for all Fair Market Rent areas. Fair Market Rents (FMRs) are primarily used to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some expiring project-based Section 8 contracts, to determine initial rents for housing assistance payment (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy program (Mod Rehab), and to serve as a rent ceiling in the HOME rental assistance program. FMRs are gross rent estimates. They include the shelter rent plus the cost of all tenant-paid utilities, except telephones, cable or satellite television service, and internet service. The U.S. Department of Housing and Urban Development (HUD) annually estimates FMRs for 530 metropolitan areas and 2,045 nonmetropolitan county FMR areas. Under certain conditions, as set forth in the Interim Rule (Federal Register Vol. 65, No. 191, Monday October 2, 2000, pages 58870-58875), these 50th percentile rents can be used to set success rate payment standards.
Section 202 Properties
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This feature service denotes the locations of HUD assisted Multi-Family properties that primarily serve elderly residents. In addition, each property illustrated through this service has at least one active Service Coordinator contract or grant, Section 236 loan, Section 8 202 contract, Section 8 Farmers Home Administration (FMHA) 515 contract, Section 8 New Construction contract, Section 202 Project Assistance Contracts (PAC) contract, and Section 202 Project Rental Assistance Contract (PRAC).