Fair Market Rents (FMRs) are estimates of what a typical renter might expect to pay for a modest rental home in a given area. These rates are used by various federal housing programs to determine rent amounts and payment standards.
The U.S. Department of Housing and Urban Development (HUD) calculates FMRs each year for different regions, including metropolitan and nonmetropolitan areas. For more details, visit the HUD Fair Market Rents page.