46,000+ Units With HUD RAD PBRA Contracts: 83% Have Contract Rent +Utilities Below FMR and 10% of Units Are At or Above 110% of FMR.

I downloaded a HUD Excel file with contract rents, utilities HERE.  Data is fresh, from last week and includes ALL HUD projects with project based rental assistance (PBRA).  
These includes  PBRA RAD contracts, and of course do NOT include RAD projects that use project based vouchers.

How I Counted PBRA RAD Units
I extracted all projects with "RD" in the contract number; this included projects with a RDD designation which are Project Rental Assistance 811 demo projects.This means that  2,251 of the total of 46,274 units in my count are NOT in public housing projects. 

As far as I can tell my count does not include mod rehab or other types of RAD; and I made the assumption that all projects included in the HUD Excel file were active. 

I then compared for each contract the contract rents+utility allowance with the relevant FMR to see what number and percentage of units are at or below FMR, at of above 110% of FMR.  (The Excel data from HUD also has this data by bedroom size, but for this post I only focused on totals). 

The PDF state summary I constructed is HERE and embedded below:

Observations;

• 82% of the 46,274 units have contract rents+utilities that were below FMR.
• While only 10% of units (4,750) were at or above 110% of FMR, those were concentrated in 3 states:  Maryland, Ohio, and Pennsylvania.Those states have 16% of all PBRA RAD units, but 59% [2,786 ] of ALL PBRA RAD units at or above 110% of FMR. 
• Oregon has 66 RAD units using PBRA. Robert Lindsey Tower in Salem has 62 units. The remaining units are in Alexander Count and Seavey Meadows III in Corvallis, both PRA 811 Demo projects.   (The OHCS document HERE has more information about the PRA 811 Demo program). ALL 66 Oregon units were below FMR. 

I hope to see the final RAD evaluation soon, and will be interesting to see if evaluation picks up on this distribution of projects by state and by FMR relationship. 



Originally created and posted on the Oregon Housing Blog.