2003-2006 results
		What is Fair Market Rent? HUD

Facts on the Thomas Jefferson Planning District

On January 3, 2008, 292 people were located in the Thomas Jefferson Planning District who met the definition of homeless. Reliable statistical estimates suggest that the total number of those homeless in the region is at least 1168.

• 24% of homeless adults were currently employed
• 46% had been homeless for less than six months
• 11% had been homeless for less than 1 month
• Schools reported 354 students in shelters, doubled up, or in other unstable living arrangements, a 15% increase
• A minimum wage worker in the City of Charlottesville must work 118 hours per week to afford a 2 bedroom apartment at the area's Fair Market Rent (FMR).

Out of Reach 2006: local housing data

Data from the National Low Income Housing Coalition

• The Housing Wage in Virginia is $17.13 per hour (or 333% of the minimum wage). This is the amount a full time worker must earn per hour in order to afford a two-bedroom unit at the area's Fair Market Rent (FMR).
• In Virginia, a worker earning the Minimum Wage ($5.15 per hour) must work 133 hours per week in order to afford a two-bedroom unit at the area's Fair Market Rent (FMR).
• An SSI recipient (receiving $603 monthly) can afford monthly rent of no more than $181, while the Fair Market Rent (FMR) for a one-bedroom unit is $74.

Work Hours Per Week Needed for Fair Market Rent ( full details )
Located in	Work Hours per Week At Minimum Wage ($5.15) Needed to Afford Fair Market Rent (FMR) for a:
	0 Bedroom	1 Bedroom	2 Bedroom	3 Bedroom	4 Bedroom
Albemarle, Fluvanna, Greene, Nelson Counties, City of Charlottesville	83	100	118	153	170
Louisa County	69	78	89	107	110

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What are Fair Market Rents?

FMRs are gross rent estimates; they include shelter rent and the cost of utilities, except telephone. HUD sets FMRs to assure that a sufficient supply of rental housing is available to program participants. The level at which FMRs are set is expressed as a percentile point within the rent distribution of standard quality rental housing units. The current definition used is the 40th percentile rent, the dollar amount below which 40 percent of standard quality rental housing units rent. The 40th percentile rent is drawn from the distribution of rents of units which are occupied by recent movers (renter households who moved into their unit within the past 15 months).

 

FMRs have been increased to the 50th percentile rent in those metropolitan areas where a FMR increase is most needed to promote residential choice, help families move closer to areas of job growth, and deconcentrate poverty.

 

Newly built units less than two years old are excluded, and adjustments have been made to correct for the below market rents of public housing units included in the data.

 

 

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Friday, 27-Jun-2008 09:18:28 EDT

Thomas Jefferson Area Coalition for the Homeless

P.O. Box 1505, Charlottesville, VA 22902

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