In comments to HUD, LeadingAge welcomed the agency’s proposed changes to affordable housing property budgets for 2023, but urged the agency to go further. HUD’s proposed adjusted calculation results in higher OCAFs than in previous years, bringing the national average from 3.1% in 2022 to 6.1% in 2023. The proposed changes include using new and different data to calculate some of the nine weighted components that make up the annual increase rate. A key area of improvement is property insurance cost calculations, which LeadingAge had specifically advocated for. Despite the positive changes that HUD proposed, the 2023 OCAFs still fall short of cost increases over the past year.