Fair Market Rents (40th PERCENTILE RENTS), HUD
Principal Investigator(s): View help for Principal Investigator(s) United States Department of Housing and Urban Development
Version: View help for Version V1
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Project Citation:
United States Department of Housing and Urban Development. Fair Market Rents (40th PERCENTILE RENTS), HUD. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-02-12. https://doi.org/10.3886/E219147V1
Project Description
Project Title:
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Fair Market Rents (40th PERCENTILE RENTS), HUD
Summary:
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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.
Original Distribution URL:
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https://www.huduser.gov/portal/datasets/fmr.html
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