BAH rates to rise an average 7.3% in 2008

[unhappycamper]

BAH rates to rise an average 7.3% in 2008
By William H. McMichael - Staff writer
Posted : Wednesday Dec 12, 2007 19:21:28 EST

The average increase in housing allowances next year will be more than twice what it was for 2007, a reflection of a soft housing market, the subprime loan debacle and widespread rental vacancies across the U.S.

Service members will receive an average Basic Allowance for Housing increase of 7.3 percent effective Jan. 1, compared to an average increase of 3.5 percent last January.

Defense officials say the 2008 increase works out to about $83 per month for service members with dependents. A typical E-4 with family members will get about $63 more per month in BAH, while the average E-8 with dependents will get an additional $79 per month.

The new rates were announced Dec. 12.

Overall, the Pentagon expects to spend $17.5 billion in BAH in 2008 to more than 1.2 million service members, about $600 million more than in 2007.


Rest of article at: http://www.armytimes.com/news/2007/12/military_08bahrates_071212w/