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Fiscal Year 2022 Fair Market Rents Released

Section 8(c)(1) of the United States Housing Act of 1937 requires the Secretary of HUD to publish Fair Market Rents (FMRs) periodically, but not less than annually, to be effective on October 1 of each year.
 Multifamily Asset Management Update

Fiscal Year 2022 Fair Market Rents Released

Section 8(c)(1) of the United States Housing Act of 1937 requires the Secretary of HUD to publish Fair Market Rents (FMRs) periodically, but not less than annually, to be effective on October 1 of each year. The Fiscal Year (FY) 2022 Fair Market Rents (FMRs) are now available on huduser.gov and will be effective as of October 1, 2021.

 

In general, the FMR for an area is the gross rent (shelter rent plus utilities) that a tenant would pay to rent privately owned, decent, and safe rental housing of a modest (non-luxury) nature with suitable amenities. HUD's FMR calculations represent HUD's best effort to estimate the 40th percentile gross rent paid by recent movers into standard-quality units in each FMR area.

 

For more information about FMRs, see HUD's August 6, 2021, Federal Register notice, which makes the FY22 FMRs available to the public, describes the methods used to calculate the FY22 FMRs, and contains the procedures interested parties must use to request a reevaluation of FMRs.

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