2011 Fair Market Rents are now available

On October 1st of every year, the US Department of Housing and Urban Development (HUD) releases Fair Market Rents, more commonly called FMRs, for the following year. These rents are primarily used to determine the standard payment amounts for the Housing Choice Voucher Program, more commonly called Section 8.

FMRs are estimates of gross monthly rents in different communities across the country. According to HUD, the FMR is the 40th percentile of local rent; this means roughly 40% of the area’s rental units are cheaper, and 60% are more expensive than the fair market rent value*. Gross rent includes shelter rent as well as all utilities except phone, cable, and internet service.

Until now FMRs have only been available at the metro area and county geographies – and in some areas at the county subdivision. However, the American Community Survey (ACS) 5-year estimates are likely to change that. With accurate data at small geographies being updated annually, HUD will most likely begin calculating FMR at the zip code level. This year HUD introduced a demonstration program for “small-area FMR” (or FMR at the zip code scale) in several metropolitan areas across the country. This means next year we might look forward to the larger-scale implementation of small-area FMR!

Powered by www.policymap.com, an online mapping tool and data warehouse.


And check out the new FMR data on PolicyMap under Owners & Renters here: /maps

*in special circumstances the 50th percentile can be used.

Bookmark and Share