Re: Rent Comparability Study/[Project Name]
HUD Section 8 Renewal Policy Guidebook · 2026 edition · updated 2026-09-23 · United States
Section 8 Contract Number: FHA No.
Dear [Mr./Ms. Owner]:
Attached is the Rent Comparability Study (RCS) you requested for [Project Name].
The purpose of the study was to estimate the market rents for units that will be assisted under the renewed Section 8 contract. Market rent is the rent that a knowledgeable tenant would most probably pay for the Section 8 units as of the date of this report, if the tenants were not receiving rental subsidies and rents were not restricted by HUD or other government agencies. The following table lists the market rent I concluded for each Section 8-unit type.
| Estimated Market | |||||
|---|---|---|---|---|---|
| Unit Type | # of Units | Size (Sq. Ft) | Rent | $ per Sq. Ft | Prepared Grid? (Y/ |
| Total |
The RCS was prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and the requirements in Chapter Nine of HUD’s Section 8 Renewal Guide. Market Rents were defined and estimated in accordance with the guidance in Sections 9-8 through 9-13 and Appendix 9-1-1 of Chapter Nine of HUD’s Section 8 Renewal Guide, and the RCS report was prepared in accordance with the guidance in Chapter Nine. I understand that HUD/the Section 8 Contract Administrator (CA) and the project Owner will use my estimate of market rents to determine: 1) the Owner’s options for renewing the project’s Section 8 contracts; and 2) the maximum rents allowed under any renewal contract.
Additionally, as required by Section 9-14 of the Chapter Nine guidance, I compared the Project’s gross renewal rent with HUD’s threshold, as shown below:
Appendix 9-1-5 – Published March 2023
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