Property fundamentals
Fair Market Rent
HUD's annual estimate of 40th-percentile gross rent for a standard-quality unit in an FMR area and bedroom count. FMRs are used in several housing programs, including as an input to Housing Choice Voucher payment standards.
Why Fair Market Rent matters
FMR is an area benchmark, not an address-level market comp, rent floor, payment standard, approved contract rent, or collection promise. TrueCap can prefill it from HUD, but you should replace it with current comparable leases and property-specific program figures where applicable.
Related terms
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Every state's investing benchmarks on one table, the rent-to-price screen, and HUD rent benchmarks for 150 markets — the same sourced data that pre-fills every TrueCap analysis.