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Payment Standards
Families participating in the Housing Choice Voucher (HCV) program benefit from a subsidy each month to help pay their rent and utilities. The subsidy varies for each family depending upon the family's size and income.
The U. S. Department of Housing and Urban Development (HUD) has mandated that PHAs in selected metropolitan areas, including Punta Gorda Housing Authority, use Fair Market Rents (FMRs) based on Charlotte County FL zip codes, and Small Area Fair Market Rents (SAFMRs), to establish payment standards in the City of North Port FL. FMRs and SAFMRs are annually published by HUD, and represent the cost to rent a moderately-priced dwelling unit in the local housing market. This provides HCV-assisted families greater access to neighborhoods with good schools, lower crime, better transportation, employment opportunities and quality housing.
In accordance with the federal regulations, housing authorities set payment standards that are between 90 percent and 110 percent of the Small Area Fair Market Rents. The Payment Standard is the maximum amount of assistance a family can receive.
Regardless of the SAFMR or payment standard, the amount of rent an owner can charge must be "reasonable" in comparison to unassisted rental units in the neighborhood with similar amenities.
