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Memorandum February 5, 2002: Fact Sheets for Project-Based Assistance Programs

Below Market Interest Rate (BMIR) Rent Formula:

HUD Handbook 4350.3 REV-1 — Occupancy Requirements of Subsidized Multifamily Housing Programs · 2026 edition · updated 2026-10-05 · United States

  • At move-in or initial occupancy, the family pays the contract rent

  • At recertification, they continue to pay the same rent unless their income is equal to or higher than 110% of the BMIR income limit. If the income has risen to 110% of the BMIR income limit, they pay the higher of the BMIR Market Rent or the amount they now pay.

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▸Contents — HUD Handbook 4350.3 REV-1 — Occupancy Requirements of Subsidized Multifamily Housing Programs
HUD Handbook 4350.3 REV-1 — Occupancy Requirements of Subsidized Multifamily Housing Programs

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