What are Fair Market Rents (FMRs)?

Fair Market Rents (FMRs) and the HUD 221(d)(4) Loan Program

Fair Market Rents (FMRs) are defined as rents in middle of the price range for a specific local market. FMRs are used by HUD to set maximum rents for certain programs. These programs include renewal rents for some Section 8 programs, including housing assistance payment (HAP) contracts for single-room occupancy (SRO) housing programs. To determine the fair market rent for your area, visit the HUD User site’s Fair Market Rent Documentation System.


To learn more about HUD multifamily construction loans like the HUD 221(d)(4) loan, fill out the form below and a HUD lending expert will get in touch.