Fair Market Rents

Fair Market Rents (FMRs) are used to determine payment amounts and rent ceilings under several programs administered by the US Department of Housing and Urban Development (HUD). It is determined by various factors including the location, size, and condition of the property, as well as current rental market conditions in the area. Fair Market Rent is often used as a benchmark by government agencies to establish payment standards for housing assistance programs.

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In the context of the rental rights program, Fair Market Rent serves two key purposes. Firstly, it may be used to determine whether a major rehab eviction costs are enough to proceed with an eviction. Secondly, FMR is used to calculate relocation assistance for tenants facing no-fault evictions.

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