In a sign that more rental units are becoming available, the Salem Housing Authority will lower its payment standards this month.  A payment standard is the maximum amount a local housing agency can pay toward rent and utilities for participants in the Housing Choice Voucher program. SHA pay s a subsidy directly to a landlord, and the difference between the actual cost and the subsidy is paid by the tenant, which is at least 30% of the total, according to the U.S. Department of Housing and Urban Development. For several years, rents in Salem were increasing so quickly that the annually published market rents by HUD couldn’t keep up. Within the last year, more units have become available , which has lowered the market price to the point that payment standards became slightly above those prices, SHA Housing Choice Voucher Operations Manager Lynette Brown said.  Per HUD, the fair market price for a two-bedroom unit is $1,560. In three areas of Salem’s zip-codes, the payment standard for two-bedroom units is $1,620. The current average market rent price for a two-bedroom unit Salem is $1,450, according to Zillow.  “Rents have been high for so long — there’s more availability in the community, and when there’s more availability, then landlords start offering concessions and different things to fill their units,” Brown explained. Aligning the payment standards will adjust clients’ rental limits so they aren’t choosing units that are at the very top of the market, which are costlier and drain more of the housing authority’s resources, Brown said.  Brown added that  SHA is currently considered “overleased” because it is spending all of the money given to them by HUD “and a little more.” She said part of the reason for lowering payment standards is cost-saving measures but also to house as many people as possible.  “It is finding that middle ground,” Brown said. “Right now, we’re in a position to do that and people will still have a lot of housing choice.” While Brown said she isn’t leasing anyone new, save for a few certain voucher types, there is opportunity for current participants in the Housing Choice Voucher Program who want to move because there are generally more units on the market. There are currently over 550 units available on Salem’s rental market, according to Zillow. This is considered a warm but not hot market, indicating higher numbers of units available to potential renters. Brown said she is hoping to see the new payment standards implemented by Aug. 2, pending approval from SHA’s board.  Contact reporter Reilly Norgren: [email protected] “My go-to source every morning for accurate, local news.” Make Salem Reporter your trusted source for independent local reporting – every day. Stay informed and connected. Subscribe today. The post Salem Housing Authority to lower its payment standards, indicating more rental units available appeared first on Salem Reporter. ...read more read less