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Committee reviews rent benchmarks — HUD, workforce proposal, and fair-market comparisons
Summary
Vice Chair Ryan Pope presented HUD Low-Income Housing Tax Credit rent levels, a proposed $1,900 workforce-rent benchmark from the Rockingham Planning Commission, and Fair Market Rent figures for nearby markets for the committee to consider when setting affordable rates for RSA 79-E projects.
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The committee examined three sets of rent benchmarks to help determine affordable rental rates for future RSA 79-E projects. Vice Chair Ryan Pope provided HUD Low-Income Housing Tax Credit examples (60% AMI: studio $1,476; 1BR $1,580; 2BR $1,897; 3BR $2,192; 4BR $2,445; 80% AMI: studio $1,823; 1BR $1,954; 2BR $2,345; 3BR $2,709; 4BR $3,022), a Workforce Housing-proposal flat rent of $1,900 across unit sizes (a figure noted from a Rockingham Planning Commission proposal), and Fair Market Rent estimates for nearby jurisdictions used for comparison.
