Estimate of Chicago Metro Impact, FY 2012 Proposed HUD Fair Market Rent Reductions: HUD Vouchers Will Support $51 Million LESS in Rents.

I did a quick calculation showing the impact of the FY 2012 proposed fair market rents for the Illinois counties in the Chicago metro area.

Using estimated county/PHA counts of vouchers that I extracted from a previous count of housing units by housing authority and the amount of the monthly proposed FMR changes for FY 2012 for each of these counties, I estimate that 2 BR rents supported by these vouchers will decrease by more than $51 million in FY 2012.  (Pic below of table by county).

Originally created and posted on the Oregon Housing Blog.