HUD Fair Market Rent Lookup — 2026 FMR by ZIP, County, and Metro

FMR Lookup: How to Read HUD Rent Data Without Misreading It

The FMR lookup returns HUD's published Fair Market Rent for a ZIP code, county, or metro area across every bedroom size from efficiency through four bedrooms, plus the Small Area FMR value where HUD publishes one. It is the starting point for voucher pricing, rent-increase requests, and market screening.

FMR is frequently misused as a market-rent estimate. It is not one. It is a 40th-percentile gross-rent statistic for standard-quality units that have turned over recently, and it deliberately excludes new construction, public housing, and substandard units.

Worked example: reading a SAFMR metro correctly

You are comparing two ZIP codes inside the same Dallas-area county for a 2-bedroom rental.

Inputs

• Metro FMR (2 BR): $1,510
• ZIP A Small Area FMR (2 BR): $1,190
• ZIP B Small Area FMR (2 BR): $2,050
• Program type: Housing Choice Voucher in a mandatory SAFMR metro

Step-by-step math

1. Which number governs?: The ZIP-level SAFMR In mandatory SAFMR metros the PHA sets voucher payment standards from the ZIP figure, not the metro figure.
2. Spread between ZIPs: $2,050 - $1,190 = $860/month A 72% difference inside one county.
3. Annual revenue difference: $860 x 12 = $10,320 On an identical unit, subsidized by the same agency.
4. Screening rule: Compare SAFMR to local purchase prices ZIP by ZIP High SAFMR alone is not opportunity; it usually tracks high acquisition cost.

Result: Using the $1,510 metro figure would overstate ZIP A by $320 and understate ZIP B by $540.

Any spreadsheet built on county averages inside a SAFMR metro is wrong in both directions at once. The interesting deals are ZIPs where SAFMR is high relative to price per square foot, not ZIPs where SAFMR is simply high.

What this output means

40th percentile

Standard FMR areas are set so that 40% of recent movers pay less. Roughly 60% of the local rental stock is priced above FMR.

50th percentile FMR

Published for a small number of areas with voucher concentration problems, giving agencies more room to place families in low-poverty neighborhoods.

Small Area FMR (SAFMR)

A ZIP-level FMR. Mandatory in designated metros and optional elsewhere. Where it exists, it is the more accurate figure.

Gross rent

FMR includes the cost of tenant-paid utilities. Comparing FMR to a rent quote that excludes utilities overstates what the program will pay.

How to act on this result

1. Screen markets on the ratio of FMR to median price, not on FMR alone. A $900 FMR against $70,000 purchase prices beats a $2,000 FMR against $400,000.
2. Before quoting a rent, confirm whether the address sits in a SAFMR metro, then use the ZIP figure.
3. Track the year-over-year FMR change for your county. Two consecutive years of decline is a signal to re-underwrite exit assumptions, not just current cash flow.
4. Use FMR as the floor of your research, then verify with actual PHA payment standards and unassisted comparable rents before committing.

Limitations of this tool

• FMR is an area-wide statistic. It says nothing about the block, the school zone, or the condition of a specific unit.
• HUD revises methodology periodically and publishes preliminary values that can change before they become effective on October 1.
• Optional SAFMR adoption varies by agency: two PHAs in one metro may price the same ZIP differently.
• FMR reflects survey and American Community Survey data with a lag, so fast-moving markets can be over- or under-stated for a year or more.
• FMR does not apply to project-based Section 8, LIHTC rents, or public housing, which use different rent-setting rules.

Calculating Rent Differences Between Metro and ZIP FMRs

Consider a scenario in the Atlanta metro area for a 3-bedroom single-family home. The standard metro-wide FMR is $1,980 for this bedroom size. However, the property is located in a high-opportunity ZIP code where the SAFMR is $2,340. If a landlord assumes the lower metro figure applies, they leave $360 per month on the table. Over a 12-month lease, this oversight costs $4,320 in potential gross revenue. Conversely, a property located in a less expensive ZIP code within the same metro might have a SAFMR of only $1,650. In this case, expecting the $1,980 metro rate would result in a $330 monthly deficit when the PHA issues the final contract.

The arithmetic becomes more complex when factoring in tenant-paid utilities. If the SAFMR is $2,340 and the PHA utility schedule deducts $240 for heat, water, and electricity, the maximum contract rent the owner receives is $2,100. Landlords must subtract the local utility allowance from the FMR tool output to find the actual rent ceiling. Comparing the $2,340 gross figure directly to a market listing that excludes utilities creates a false impression of the asset performance. Investors should always perform this subtraction before finalizing an acquisition offer or setting a listing price for a new voucher applicant.

Common Data Errors and Verification Steps with Agencies

The lookup tool provides the federal baseline, but local administrative choices can render these numbers obsolete for specific units. One major edge case occurs when a PHA manages a jurisdiction that overlaps with another agency. One agency might adopt SAFMR voluntarily while the neighbor uses the metro FMR. If you pull the ZIP-level data for a 2-bedroom unit and see $1,400, but the tenant brings a voucher from an agency using the 110% payment standard on the metro FMR of $1,200, your expected rent will be off by $80. You must call the specific PHA issuing the voucher to ask if they use ZIP-based or metro-based benchmarks.

Another common mistake is ignoring the effective date of PHA policy changes. While HUD updates FMRs on October 1, a PHA has up to 90 days to update its own payment standards. If you use the newest FMR data to screen a tenant in November, but the PHA is still operating on the previous year values, your rent request may be denied for exceeding the ceiling. Always verify the current payment standard percentage with the PHA rent office. They may set their local limit at 90%, 100%, or 110% of the value shown in this tool, which can change your math by hundreds of dollars.

Next Steps for Moving from FMR to Payment Standards

Once you have the FMR for your ZIP code, your next 7 days should be spent obtaining the utility allowance schedule and the payment standard percentage from the local PHA website. The FMR is merely a reference point; the payment standard is the actual dollar amount the PHA uses to calculate the subsidy. You cannot accurately predict cash flow until you apply the 90% to 110% multiplier to the FMR you found today. Most agencies publish these tables as PDFs under a section titled Landlord Resources or Housing Choice Voucher Program. If the documents are not online, an email to the inspections department is the most direct way to get them.

After gathering these local variables, you must perform a rent reasonableness check by looking at 3 unassisted units of similar age and condition within a 2-mile radius. Even if the FMR allows for $1,800, the PHA will not approve it if three nearby market-rate units are renting for $1,600. To understand the relationship between these numbers and how the government calculates the tenant portion of the rent, read our companion guide Voucher Payment Standard Basics. This sequence moves your research from a broad federal estimate to a specific, defensible contract rent that ensures your property remains competitive and compliant throughout the entire 12-month lease term.

Read the full method: Voucher Payment Standard Basics walks through the same math in depth, with sourcing notes and edge cases.

HUD Fair Market Rent Lookup FAQ

Is FMR the maximum rent I can charge?

No. The PHA payment standard, set between 90% and 110% of FMR, is the operative ceiling, and rent reasonableness can hold you below it.

Why does FMR seem low compared with listings I see?

FMR targets the 40th percentile of standard-quality recent-mover rents and includes utilities. Listing sites skew toward newer, larger, better-marketed units.

When does the new FMR take effect?

On October 1, the start of the federal fiscal year, though PHAs adopt revised payment standards on their own schedules afterward.

Does a higher FMR mean a better investment?

Not by itself. Returns depend on the relationship between FMR, purchase price, taxes, insurance, and turnover cost in that specific submarket.

Can I use FMR to justify a rent increase?

It supports the request, but the PHA will still run a rent-reasonableness comparison against unassisted units and require proper notice.