Concept information
Preferred term
fair market rent
Definition
- Fair market rent (also known as FMR) is an estimate of monthly contractual gross rent and a utility allowance necessary to lease a habitable and modest apartment unit. FMR is set by the U.S. Department of Housing and Urban Development (HUD) for a specific county or metropolitan statistical area. [Source: The Encyclopedia of Housing; Fair Market Rent]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/fair_market_rent
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