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The Mark-to-Market Program

The Mark-to-Market program was established by the Multifamily Assisted Housing Reform and Affordability Act of 1997 as a process for restructuring multifamily properties insured by the Federal Housing Administration (FHA) when their contracts expire.  It is overseen by the Office of Multifamily Housing Assistance Restructuring (OMHAR), a division of the Department of Housing and Urban Development (HUD).

The overall goal of the program is to reduce federal spending on housing subsidies by making it financially feasible for multifamily properties currently charging rents greater than comparable market rents to survive and offer quality, market-competitive housing at comparable market rents.  As part of this process, eligible properties work with a Participating Administrative Entity (PAE), usually a housing authority or state housing finance agency, to identify appropriate market rent,  identify improvements necessary for the property to be competitive in the marketplace, and identify methods of restructuring the finances of the property in order to make operating at comparable market rents financially feasible.

Properties with expiring subsidy contracts are eligible for the program if they meet all of the following requirements:

  • Multifamily housing (4 or more units)
  • One or more FHA-insured or HUD-held mortgages (except Section 202 or if financed by state/local government)
  • Receives project-based assistance (Section 8 contract)
  • Project-based rents exceed comparable market rents
  • Owner is in good standing

More on The Mark-to-Market Process
        A detailed examination of the process
Danter Company Services for Mark-to-Market Candidates
        How the Danter Company can help you identify the most accurate comparable market rent for your property and other services we can provide to enhance the process
List of Participating Administrative Entities (PAEs)
        As updated weekly by HUD in PDF format
Mark-to-Market Links
        Sites for additional information on the Mark-to-Market program

 
   

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