Fair Market Rent Lookup by ZIP Code (HUD FMR)

How to use the Fair Market Rent lookup

Type in the ZIP code or county where your rental is. We take you to HUD’s official Fair Market Rent figures for that area, with separate numbers for zero-bedroom (studio), one-, two-, three- and four-bedroom units. We link to HUD instead of copying the table because HUD updates it every year and sometimes revises it mid-year, and the official page is the one a housing authority will use.

When you’re on HUD’s page, check three things:

• The fiscal year. FMRs take effect October 1. Make sure you’re looking at the current year.
• The area. Most FMRs are set for a metro area or a non-metro county. In metros where HUD requires Small Area FMRs, the figure is set by ZIP code, and it can differ a lot from one side of town to the other.
• Your bedroom count. Use the number of bedrooms in the lease, not the number of rooms you’d like to call bedrooms.

What Fair Market Rent measures

FMR is a gross rent: the shelter rent plus the cost of utilities the tenant pays (excluding phone, cable and internet). The standard FMR is set near the 40th percentile of rents for standard-quality units, meaning about 40% of comparable units rent for less. HUD builds it from American Community Survey data and adjusts it for recent rent trends.

To compare it with your asking rent, subtract the utility allowance if your tenant pays utilities:

Contract rent you can expect from a voucher tenancy, roughly = payment standard - utility allowance

The housing authority publishes both the payment standard and the utility allowance schedule.

A worked example

Say HUD’s FMR for a two-bedroom in your ZIP is $1,500, and your local housing authority sets its payment standard at 100% of FMR. Your tenant would pay electric and gas, and the authority’s utility allowance for that is $150 a month.

• Highest gross rent the voucher supports: $1,500
• Less the utility allowance: $1,500 - $150 = $1,350 contract rent

If you ask $1,450 in that case, the tenant would have to cover the extra $100 on top of their usual share. Many programs limit how much more than the payment standard a new voucher tenant can take on, so the lease may not be approved. If the authority sets its standard above 100% of FMR, the math changes in your favor. Ask what it uses.

What a good result looks like for a landlord

If your planned rent is close to the payment standard minus the utility allowance, a voucher tenancy can work well. You get the authority’s share directly each month, which is one less collection to chase. If your rent is well above it, a voucher tenant may not be able to rent the unit unless the authority approves an exception.

FMR is also a useful reality check when you price a unit. If your asking rent is below the FMR for your bedroom count, you’re probably underpriced.

Limits and caveats

• It’s not your market rent. FMR is set for a modest unit near the 40th percentile. An updated unit with parking and in-unit laundry can rent well above it.
• Payment standards differ. Your housing authority sets its own standard within HUD’s allowed range around the FMR, and it can be different from the published FMR.
• Rent reasonableness. The authority also compares your rent with similar unassisted units nearby, even if it’s under the payment standard.
• Source-of-income laws. Many states and cities make it illegal to refuse voucher holders. Check yours before you write “no Section 8” anywhere.