Interpretive Non-Enforcement of Algorithmic Price Coordination in Federally Involved Rental Housing

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Ban Price-Fixing Algorithms in Taxpayer-Funded Housing

AKA “Keep Big Tech Out of Public Housing Markets”


Which agency/agencies promulgated the regulation? *
U.S. Department of Housing and Urban Development (HUD) Federal Housing Finance Agency (FHFA) Federal Trade Commission (FTC) U.S. Department of Justice (DOJ) – Antitrust Division
Which title, parts, and/or sections of the Code of Federal Regulations (C.F.R.) should be rescinded? *
• 24 CFR Part 5 — General HUD oversight authority • 12 CFR Part 1282 — FHFA regulations for Fannie Mae/Freddie Mac housing goals • DOJ/FTC non-codified guidance — Enforcement discretion on algorithmic pricing and data-sharing platforms in the housing sector Specifically: rescind permissive silence and non-enforcement around rent-optimization software (e.g., RealPage YieldStar, LRO) and revise federal oversight to prohibit their use in federally subsidized or GSE-financed rental properties.
What is your name?
—OPTIONAL--
Is your proposed rescission a notice of proposed rulemaking, final rule, direct final rule, interim final rule, or interpretive rule? *
Interpretive Rule
What is the name of the regulation being rescinded, if applicable? *
Interpretive Non-Enforcement of Algorithmic Price Coordination in Federally Involved Rental Housing
Please provide a short summary of the justifications for the rescission. *
Landlords receiving federal support—through subsidies, tax credits, or Fannie/Freddie financing—should not be allowed to use software that inflates rents via algorithmic coordination. Tools like YieldStar pull sensitive rental data from competitors and use it to suppress vacancy rates and discourage undercutting, functioning as a digital cartel. Rescinding the government’s non-enforcement posture would protect renters and prevent public programs from subsidizing market distortion.
Please insert the address of the agency. [NPRM, DFR, and IFR only]
HUD: 451 7th Street SW, Washington, DC 20410 FHFA: 400 7th Street SW, Washington, DC 20219 FTC: 600 Pennsylvania Avenue NW, Washington, DC 20580 DOJ: 950 Pennsylvania Avenue NW, Washington, DC 20530
Please insert the contact information for the agency. *
Please insert the most reasonable contact information for the agency HUD: (202) 708-1112 · affordablehousing@hud.gov FHFA: (202) 649-3800 · multifamilypolicy@fhfa.gov FTC: (202) 326-3300 · antitrust@ftc.gov DOJ Antitrust: (202) 514-2481 · antitrust.complaints@usdoj.gov
What is the background for the regulation being rescinded? *
In 2022, investigative reporting and tenant lawsuits revealed that RealPage’s YieldStar software was enabling landlords to raise rents in lockstep across metro areas—discouraging competition and coordinating pricing through centralized data inputs. Despite clear antitrust implications, federal regulators have not taken enforcement action, and housing agencies allow the use of these tools in properties backed by HUD funding, LIHTC credits, and GSE financing. This de facto tolerance enables coordinated rent hikes using taxpayer-backed properties.
Explain the reasons for the rescission. *
These tools are algorithmic price-fixing engines—and when used in subsidized or publicly supported housing, they become instruments of state-sanctioned extraction. Renters in HUD-assisted or Fannie-backed properties should not be subjected to software-driven price escalation. Rescinding this regulatory blind spot would prevent further public funding of predatory pricing systems and re-establish antitrust accountability in the housing sector.
Describe the text of the relevant C.F.R. provisions as it will exist after the rescission. *
• 24 CFR Part 5 will be amended to prohibit HUD-funded or HUD-assisted properties from using algorithmic rent-setting software that pulls competitive data or suppresses internal pricing discretion. • 12 CFR Part 1282 will be revised to bar GSE-financed multifamily properties from using third-party rent-optimization software as a condition of enterprise compliance. • DOJ and FTC will issue joint interpretive guidance clarifying that algorithmic price coordination in rental housing constitutes a presumptive antitrust violation—especially when subsidized or federally backed.
Please insert the name of the current agency head. *
Scott Turner
Please insert the title of the agency head. *
Secretary of Housing and Urban Development

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