Unless local law (building code) requires something stricter, or the situation poses a safety issue it is based upon the number of risers, typically 3 or more require a handrail.

However, in January 1, 2006 FHA (which the minimum property requirements are based on) changed what they require appraisers to note – specifically those that rise above cosmetic defects, minor defects, or normal wear and tear. While the appraiser is still to report any noted deficiencies they no longer require automatic repair. Missing handrails is one of the items that no longer calls for automatic repairs.

The change is from Mortgagee Letter 2005-48 ==> http://www.hud.gov/offices/adm/hudclips/letters...