What is a Fair Market Rent?
A Fair Market Rent (FMR) is the dollar amount HUD estimates it would cost a renter to find modest housing in a given metropolitan area or non-metro county. FMRs are set each year for efficiency (studio), 1-, 2-, 3-, and 4-bedroom units. They are the basis for Section 8 Housing Choice Voucher payment standards and determine the maximum rent a voucher holder can pay.
HUD Fair Market Rents & Income Limits
Find FMRs, Section 8 income limits, LIHTC rents, and PHA contacts for any US location.
Most expensive 2BR FMR: Santa Cruz-Watsonville, CA MSA ($4,214/mo) · Least expensive: Guayama, PR MSA ($475/mo) · Full rankings →
Featured Metro FMRs — FY2026
$1,132
$1,483
$2,062
$1,155
$1,625
$2,260
$939
$1,362
$1,845
$1,347
$1,664
$2,314
$1,150
$1,469
$2,043
$2,079
$2,903
$3,681
$1,055
$1,376
$1,914
$1,116
$1,503
$2,067
$1,255
$1,758
$2,442
$2,286
$3,315
$4,222
About Fair Market Rents
The U.S. Department of Housing and Urban Development (HUD) publishes Fair Market Rents every fiscal year for more than 2,500 metropolitan and non-metropolitan areas across the country. These figures represent the 40th percentile of gross rents paid by recent movers in each area — not the average or median of all renters, but specifically what someone who moved within the past 15 months is paying for modest housing.
FMRs serve as the foundation for several federal housing programs: the Section 8 Housing Choice Voucher program uses them to set payment standards, the HOME Investment Partnerships program uses them to cap rents in federally-funded housing, and Low-Income Housing Tax Credit (LIHTC) maximum gross rents are derived from HUD income limits which in turn use FMR data.
On this site you can look up current and historical FMRs for any area, compare costs between metros, find income limits for Section 8 eligibility, and locate Public Housing Authorities near you.