The federal government is acknowledging what local renters with housing subsidies know from experience: Vouchers aren't keeping up with rising rents.
This month, the U.S. Department of Housing and Urban Development announced the new prices it will view as "fair market rents" — the annual values that determine the maximum amount a housing choice voucher will cover in a given zip code. The new values take effect starting Oct. 1, the beginning of the federal fiscal year.
Nationwide, the department's definition of fair market rents will increase by an average of about 10%. And in the Philadelphia region, the values are rising even more.
