Clarendon Secures Renewal of HUD Contract for Section 8 Rent Comparability Studies (RCS) in the Northeast Region

Clarendon is proud to announce the renewal of our contract with the U.S. Department of Housing and Urban Development (HUD) to provide Section 8 Rent Comparability Studies (RCS) for the Northeast Region of the United States.

This region, headquartered in New York City, encompasses 14 states: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia.

Our extensive expertise and insights into the U.S. Northeast rental market continue to drive our commitment to delivering accurate and reliable RCS. These studies are crucial for determining market rents, which influence the renewal of Section 8 contracts and the provision of affordable housing.

HUD mandates Rent Comparability Studies (RCS) to review and renew most Section 8 contracts. The market rents derived from these studies dictate the rental income owners can receive under the program, significantly impacting their decision to renew Section 8 contracts or transition to market rent housing. Additionally, these market rents play a vital role in HUD’s expenditure on Section 8 project-based subsidies.

For more detailed information on Rent Comparability Studies (RCS) and the market rent threshold test, read our article "HUD Introduces New 150% Mandatory Market Rent Threshold Test."

Clarendon offers a full range of affordable housing valuation products and services including:

  • HUD Section 8 Rent Comparability Studies

  • LIHTC Market Studies

  • Rent Reasonableness Studies

  • Flat Rent Studies

  • Development Support

  • Appraisals

To learn more about Clarendon’s services, please click here.

ABOUT THE U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

The U.S. Department of Housing and Urban Development’s (HUD) mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination, and transform the way HUD does business.

ABOUT CLARENDON

Clarendon, headquartered in Cleveland, Ohio, specializes in Affordable Housing Valuation, Market Studies, Research, Development Support and Investment Sales services for public and private clients in major markets nationwide.

Clarendon has been awarded contracts with the U.S. Department of Housing and Urban Development (HUD), including the New York, Boston, New Jersey and Baltimore offices.  These contracts required the completion of a high volume of Rent Studies for family and senior housing, with HUD as an intended user.  Clarendon has also been awarded contracts to provide Reviews of HUD Section 8 Rent Comparability Studies for the states of Connecticut, Massachusetts, Michigan and Pennsylvania.

Clarendon is a WOSB, MWBE and we believe in a firm commitment to diversity and giving back to the communities that we live and work in. To learn more about our Real Estate Training Programs, click here.

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