On March 9, Department of Housing and Urban Development (HUD) announced the Annual Adjustment Factors (AAFs) for 2023, which adjust rents for certain Section 8 housing assistance payment programs.

HUD establishes the rent adjustment factors on the basis of Consumer Price Index (CPI) data relating to changes in residential rent and utility costs. AAFs are applied at the anniversary of certain Housing Assistance Payment (HAP) contracts; the amount that an owner is required to deposit to the Reserve for Replacement account is also adjusted annually by the most recently published AAF, at the HAP contract anniversary. The 2023 AAFs are effective as of March 9, 2023.

More information is available here.