Fair Market Rents
- The PHA determines a payment standard that is between 90 percent and 110 percent of the Fair Market Rents (FMRs). FMRs regularly published by HUD, represent the cost to rent a moderately-priced dwelling unit in the local housing market. The housing voucher tenant must pay 30 percent of its monthly adjusted gross income for rent and utilities, and if the unit rent is greater than the payment standard, the tenant is required to pay the additional amount.
Find your FMR here: https://www.huduser.gov/portal/datasets/fmr.html
Small Area Fair Market Rents
- Small Area Fair Market Rents (SAFMRs) are FMRs calculated for ZIP Codes within metropolitan areas. In areas designated by HUD, PHAs are required to use SAMRs to set Housing Choice Voucher payment standards. Other Housing Agencies operating in non-designated metropolitan areas may opt-in to the use of SAFMRs. Furthermore, SAFMRs may be used as the basis for setting Exception Payment Standards – PHAs may set exception payment standards up to 110 percent of the SAFMR. PHAs administering Public Housing units may use SAFMRs as an alternative to metropolitan area-wide FMRs when calculating Flat Rents.
Find your SAFMR here: https://www.huduser.gov/portal/datasets/fmr/smallarea/index.html#final-rulemaking