Every RAD change in 2025 and 2026, by date

RAD’s rules come from four places: the statute, HUD’s RAD notice and supplements, HUD’s general program rules (FMRs, OCAFs, voucher and Section 18 notices), and the financing programs most conversions use. All four moved in 2025 and 2026. This page lists each change by date with its primary citation. Items we could not confirm on a primary document are labeled “reported”.

2025

Date	Change	Citation
Jan 8, 2025	FHA underwriting: affordable (LIHTC with rent advantage) loans move to 90% LTV or LTC and 1.11 debt service coverage under 221(d)(4) and 223(f); market-rate to 87% and 1.15; properties with 90% or more assisted units unchanged at 90% and 1.11	ML 2025-03
Jan 13, 2025	HUD’s general 30-day notice before lease termination for nonpayment takes effect for public housing and PBRA	89 FR 101270
Jan 15, 2025	Supplemental Notice 4C issued: public housing application deadline to September 30, 2029; blend changes; resident services waiver; alternative OCAF; RAD nonpayment notice raised from 14 to 30 days; HOTMA conforming changes; new Financing Plan feasibility benchmarks	H-2025-01 / PIH-2025-03
Mar 15, 2025	Full-year FY2025 continuing appropriations enacted with no RAD amendment	P.L. 119-4
Jun 16, 2025	4C published in the Federal Register and effective; its new waivers and alternative requirements effective June 26, 2025. Section X benchmarks apply to deals without a complete Financing Plan 90 days after the effective date	90 FR 25356
Jun 26, 2025	HUD proposes cutting FHA multifamily mortgage insurance premiums	90 FR 27331
Jul 4, 2025	One Big Beautiful Bill Act: 4% LIHTC bond test drops to 25% of basis (with a post-2025 bond issue financing at least 5%) for buildings placed in service in tax years beginning after December 31, 2025; 9% ceilings get a permanent 1.12 multiplier from 2026	P.L. 119-21, §70422
Sep 19, 2025	202 PRAC Preservation Rent Increase: up to $300, $200 or $50 per unit per month for PBRA conversions with new third-party debt	H-2025-04
Sep 23, 2025	FHA multifamily MIP set at 0.25% upfront and annual for all programs (223(f), 221(d)(4), 223(a)(7)), for applications submitted or amended on or after October 1, 2025; the separate green and affordable categories end	90 FR 45789
Sep 30, 2025	2026 Qualified Census Tracts and Difficult Development Areas published	90 FR 46904
Sep 30, 2025	One-time good-cause rent adjustment process for Component 1 opens through the RAD Resource Desk (reported)	Reported by Nixon Peabody, PHADA, NLIHC

2026

Date	Change	Citation
Jan 1, 2026	2026 FHA substantial rehab threshold ($20,406 per unit) applies to applications submitted or amended from this date; large-loan threshold stays $130 million	ML 2026-05, May 20, 2026
Feb 3, 2026	2026 OCAFs published: national average 5.1%, for anniversaries on or after February 11, 2026	91 FR 4934
Feb 3, 2026	FY2026 appropriations: no cap or deadline change; ROSS renewals may serve RAD residents; Sec. 241 funds due diligence and technical assistance for small properties converting under either component; Sec. 243 factors Jobs-Plus rent incentives into PBV and PBRA HAP	P.L. 119-75, Div. D
Feb 26, 2026	HUD revokes its general 30-day nonpayment notice rule for public housing and PBRA, effective March 30, 2026. The rule does not mention RAD; the RAD notice’s own 30-day requirement was unchanged as of October 30, 2026	91 FR 9449
Mar 24, 2026	RAD COVID-19 supplemental guidance (H-2020-09 / PIH 2020-26) rescinded as obsolete	H-2026-04 / PIH 2026-07
May 1, 2026	HUD and USDA rescind the 2024 energy efficiency standards determination for new construction. Whether HUD has conformed RAD’s energy code requirement is not confirmed	91 FR 23450
May 6, 2026	Replacement TPVs for vacant units: for triggering events after May 6, 2026, the unit must have been occupied by an assisted family in the previous 12 months, down from 24. Blend and Mod Rehab PBV plans relying on TPVs submitted before May 6 keep 24 months	PIH 2026-12, as described in HUD’s 2026 RADBlast
May 12, 2026	Restore-Rebuild (formerly Faircloth-to-RAD) wound down by HUD memorandum; RAD conversions of existing public housing unaffected	HUD 2026 RADBlast
May 2026	Year-end 2026 closing timelines memo for public housing and PRAC conversions (reported)	Reported by Housing Online
May 27, 2026	RAD Contract Rents Look-Up Tool updated: 2024 funding adjusted by 2025 and 2026 OCAFs, for CHAPs issued in 2025 and 2026	HUD Look-Up Tool
Jun 2026	Partial RAD/Section 18 blends no longer eligible for the Asset Repositioning Fee (reported)	Reported by CLPHA
Jun 9, 2026	Voucher funding notice Rev. 2: agencies in a funding shortfall may still sign new RAD PBV HAP contracts; extraordinary OCAF requests may be filed but not implemented until the shortfall ends	PIH 2026-12
Jun 2026	NYU Furman Center study finds RAD conversion did not increase eviction filings (reported)	Reported by CLPHA, June 23, 2026
Jul 11, 2026	21st Century ROAD to Housing Act §212: RAD permanent; cap 555,000; mandatory lease and management plan addendum authority; annual findings; civil money penalties for both components; tenant rights enforceable by tenants; use restriction on PHA property. Became law without signature	P.L. 119-101
Aug 2026	HUD updates its RAD Overview: over 300 PHAs fully converted, over 90% of residents remained or returned	RAD Overview
Aug 28, 2026	New Section 18 demolition and disposition notice, amending PIH 2024-40, restates RAD/Section 18 blend tiers	PIH 2026-23
Sep 1, 2026	FY2027 Fair Market Rents published, effective October 1, 2026	91 FR 56156
Oct 6, 2026	2027 QCTs and DDAs published, effective for allocations after December 31, 2026	91 FR 63573
2026	FY2027 President’s budget proposes removing the RAD cap and resetting Faircloth limits (reported)	Reported by the Bipartisan Policy Center

What has not happened yet

As of October 30, 2026:

• No notice implementing §212. HUD’s RAD notices page still lists 4C as the latest supplement, and the notice still prints 455,000 units and a September 30, 2029 deadline. The statute controls those two points; see RAD is permanent. The RAD Resource Desk already shows the 555,000 cap.
• No lease addendum or penalty procedures. Both are authorized but not implemented.
• No 2027 OCAF. Expect it in the Federal Register early in 2027.
• No 2027 RAD rent base year. Under the notice’s two-year cycle, CHAPs issued from January 1, 2027 would use a new base. See RAD rents and OCAF.
• No new Component 2 data. HUD’s closed Component 2 list is still dated June 1, 2024.

What it means, by reader

Reader	Changes that matter most
Residents	Rights made expressly enforceable by tenants (July 2026); RAD’s 30-day nonpayment notice still in the RAD notice despite HUD’s general rollback. See RAD tenant rights
Housing authorities	No deadline and more cap room; TPV 12-month lookback for blends; Restore-Rebuild closed; new Section 18 notice. See blends explained
Owners and developers	4C feasibility benchmarks; 25% bond test; 0.25% FHA MIP; PRAC rent increase. See the financing guide and 4% LIHTC and bonds
Component 2 owners	H-2025-04 rent increase; penalties now reach Component 2; small-property technical assistance funding. See Component 2

The live effect of these rules on the cap is on the home page meter, and every conversion is in the tracker. For a financing read on how 2026 rules change a specific deal, Janover Capital LLC’s desk is at get financing.

Sources

Primary documents are linked in the tables. Additional sources:

• HUD, RAD notices page, checked October 30, 2026.
• HUD, RAD Notice Revision 4 as amended by Supplementals 4B and 4C, Attachment 1C (rent base years).
• RAD Resource Desk, checked October 30, 2026.
• Congressional Research Service, R49354, September 17, 2026 (enactment without signature; secondary).
• Reported items: Nixon Peabody, CLPHA, Bipartisan Policy Center, Housing Online. These were not confirmed on a HUD document.

This timeline is general information, not legal advice. Check the current text of each notice before relying on it.