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Fair Market Rents (FMRs) are used to determine payment standard amounts for the Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, initial rents for housing assistance payment (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy program (Mod Rehab), rent ceilings for rental units in both the HOME Investment Partnerships program and the Emergency Solutions Grants program, maximum award amounts for Continuum of Care recipients and the maximum amount of rent a recipient may pay for property leased with Continuum of Care funds, and flat rents in Public Housing units. The U.S. Department of Housing and Urban Development (HUD) annually estimates FMRs for Office of Management and Budget (OMB) defined metropolitan areas, some HUD defined subdivisions of OMB metropolitan areas, and each nonmetropolitan county. 42 USC 1437f requires FMRs be posted at least 30 days before they are effective and that they are effective at the start of the federal fiscal year (generally October 1). Fair Market Rents, as defined in 24 CFR 888.113 are estimates of 40th percentile gross rents for standard quality units within a metropolitan area or nonmetropolitan county.
Fair Market Rents: Overview (*.pptx, 1.66MB), (*.pdf, 706KB)
NOTE: HUD no longer performs surveys of local housing markets, but may accept telephone or mail surveys of local housing markets to obtain current rental housing information conducted on behalf of housing authorities in support of annual Fair Market Rent calculations. The information listed below provides information on the type of data that is collected and the instruments that may be used.
This system provides complete documentation of the development of the FY 2024 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2024 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2021 American Community Survey (ACS) 1 year data and the newly available 2017-2021 5 year data, and updating to FY 2024 including information from local survey data.
The Department of the Treasury's Emergency Rental Assistance Program allows grantees to make payments to households up to the maximum of the applicable Fair Market Rent or Small Area Fair Market Rent in cases where the household does not have documentation of actual rent paid. The following table shows the maximum of the Fair Market Rent or Small Area Fair Market Rent by bedroom size. For more information about the Emergency Rental Assistance Program, please visit -issues/cares/emergency-rental-assistance-program.
This system provides complete documentation of the development of the FY 2023 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2023 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2016-2020 American Community Survey (ACS) 5 year data, and updating to FY 2023 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed.
This system provides complete documentation of the development of the FY 2022 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2022 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2019 American Community Survey (ACS) 1 year data and the newly available 2015-2019 5 year data, and updating to FY 2022 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed.
This system provides complete documentation of the development of the FY 2021 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2021 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2018 American Community Survey (ACS) 1 year data and the newly available 2014-2018 5 year data, and updating to FY 2021 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed.
This system provides complete documentation of the development of the FY 2020 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2020 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2017 American Community Survey (ACS) 1 year data and the newly available 2013-2017 5 year data, and updating to FY 2020 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed.
This system provides complete documentation of the development of the FY 2019 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2019 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2015 American Community Survey (ACS) 1 year data and the newly available 2011-2015 5 year data, and updating to FY 2019 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed.
This system provides complete documentation of the development of the FY 2018 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2018 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2015 American Community Survey (ACS) 1 year data and the newly available 2011-2015 5 year data, and updating to FY 2018 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed.
This system provides complete documentation of the development of the FY 2017 Fair Market Rents (FMRs) for any area of the country selected by the user. After selecting the desired geography, the user is provided a page containing a summary of how the FY 2017 FMRs were developed and updated starting with the formation of the FMR Areas from the metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget, the newly available 2014 American Community Survey (ACS) 1 year data and the newly available 2010-2014 5 year data, and updating to FY 2017 including information from local survey data. The tables on the summary page include links to complete detail on how the data were developed. 152ee80cbc
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