Fair Market Rents (FMRs) are used to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some expiring project-based Section 8 contracts, to determine initial rents for housing assistance payment (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy program (Mod Rehab), rent ceilings for rental units in both the HOME Investment Partnerships program and the Emergency Solution Grants program, calculation of maximum award amounts for Continuum of Care recipients and the maximum amount of rent a recipient may pay for property leased with Continuum of Care funds, and calculation of flat rents in Public Housing units. The U.S. Department of Housing and Urban Development (HUD) annually estimates FMRs for Office of Management and Budget (OMB) defined metropolitan areas, some HUD defined subdivisions of OMB metropolitan areas and each nonmetropolitan county. 42 USC 1437f requires FMRs be posted at least 30 days before they are effective and that they are effective at the start of the federal fiscal year (generally October 1).

Virginia (VA) has the 19th highest rent in the country out of 56 states and territories. The Fair Market Rent in Virginia ranges from $701 for a 2-bedroom apartment in Grayson County, VA to $1,765 for a 2-bedroom unit in Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area.

For FY 2024, the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area (Arlington County) rent for a studio or efficiency is $1,772 per month and $3,015 per month to rent a house or an apartment with 4 bedrooms. The average Fair Market Rent for a 2-bedroom home in Virginia is $1,056 per month.

Approximately 15% of Americans qualify for some level of housing assistance. The population in Virginia is around 2,038,847 people. So, there are around 305,827 people in Virginia who could be receiving housing benefits from the HUD. For FY 2025, the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area (Arlington County) rent for a studio or efficiency is $2,012 per month and $3,413 per month to rent a house or an apartment with 4 bedrooms. The average Fair Market Rent for a 2-bedroom home in Virginia is $1,059 per month.

Small Area Fair Market Rents (SAFMRs) are FMRs calculated for ZIP Codes within Metropolitan Areas. Small Area FMRs are required to be used to set Section 8 Housing Choice Voucher payment standards in areas designated by HUD (available here). Other Housing Agencies operating in non-designated metropolitan areas may opt-in to the use of Small Area FMRs. Furthermore, Small Area FMRs may be used as the basis for setting Exception Payment Standards – PHAs may set exception payment standards up to 110 percent of the Small Area FMR. PHAs administering Public Housing units may use Small Area FMRs as an alternative to metropolitan area-wide FMRs when calculating Flat Rents. Please See HUD’s Small Area FMR Final Rule for additional information regarding the uses of Small Area FMRs.Note that this service does not denote precise SAFMR geographies. Instead, the service utilizes a relationship class to associate the information for each SAFMR with the FMR areas that its ZCTA overlaps. For example, ZCTA 94558 overlaps the Santa Rosa, Napa, and Vallejo-Fairfield MSAs. Selecting that ZCTA will reveal the SAFMR information associated with each FMR area.

  To learn more about the Small Area Fair Market Rents visit: https://www.huduser.gov/portal/datasets/fmr/smallarea/index.html, for questions about the spatial attribution of this dataset, please reach out to us at GISHelpdesk@hud.gov. Date of Coverage: Fiscal Year 2025Date Update: 01/2025

In 2025, a two-bedroom apartment in New York HMFA and Westchester County Statutory Exception Area cost about ***** U.S. dollars in fair monthly rent, making it the most expensive metropolitan areas in New York. Nassau-Suffolk HMFA ranked second most expensive with monthly rent of over ***** U.S. dollars for a two-bedroom apartment. On the other hand, Utica-Rome MSA and Yates County HMFA were the least costly, requiring renters to spend at least ******and ***** U.S. dollars, respectively in monthly rent for a two-bedroom apartment. These rents were higher than the monthly rent required for a two bedroom apartment in Florida in 2025.

Fair Market Rents (FMRs) represent the estimated amount (base rent + essential utilities) that a property in a given area typically rents for. The data is primarily used to determine payment standard amounts for the Housing Choice Voucher program; however, FMRs are also used to:

Determine initial renewal rents for expiring project-based Section 8 contracts;

Determine initial rents for housing assistance payment (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy program (Mod Rehab), rent ceilings for rental units in both the HOME Investment Partnerships program and the Emergency Solution Grants (ESG) program;

Calculate of maximum award amounts for Continuum of Care recipients and the maximum amount of rent a recipient may pay for property leased with Continuum of Care funds, and;

Calculate flat rent amounts in Public Housing Units.

Data is updated annualy in accordance with 42 USC 1437f which requires FMRs be posted at least 30 days before they are effective and that they are effective at the start of the federal fiscal year, October 1st.In order to calculate rents for units with more than four bedrooms, an extra 15% cost is added to the four bedroom unit value. The formula is to multiply the four bedroom rent by 1.15. For example, in FY21 the rent for a four bedroom unit in the El Centro, California Micropolitan Statistical Area is $1,444. The rent for a five bedroom unit would be $1,444 * 1.15 or $1,661. Each subsequent bedroom is an additional 15%. A six bedroom unit would be $1,444 * 1.3 or $1,877. These values are not included in the feature service.

To learn more about Fair Market Rents visit: https://www.huduser.gov/portal/datasets/fmr.html/, for questions about the spatial attribution of this dataset, please reach out to us at GISHelpdesk@hud.gov. Data Dictionary: DD_Fair Market Rents

Date of Coverage: FY2024 : Oct. 1 - Sept. 30

In California, the highest fair market rent for a two-bedroom accommodation amounted to ***** U.S. dollars in Santa Cruz-Watsonville. This made it the most expensive metro area to live in California in 2025. Renters required an hourly wage of at least ******U.S. dollars to afford this two-bedroom housing. Second in rank was San Jose that had a ***** U.S. dollar fair market rent for two-bedroom housing.

In 2025, a two-bedroom apartment in Fort Lauderdale HMFA had a fair market rent of about ***** U.S. dollars monthly, making it the most expensive metropolitan area in Florida. This also happens to be the metropolitan area with the highest hourly wage required to afford a two-bedroom apartment in Florida. On the other hand, the Levy County HMFA metro was the most affordable, requiring renters to spend at least *** U.S. dollars respectively in monthly rent for a two-bedroom apartment.

In California, the estimated fair market rent for a two-bedroom accommodation amounted to ******U.S. dollars in 2025. It was one of the least affordable states in terms of housing that year, as someone would need to earn at least twice the minimum wage to afford a two-bedroom rental unit there.

HOME Rent Limit data are available from FY 1998 to the present. Per 24 CFR Part 92.252, HUD provides the following maximum HOME rent limits. The maximum HOME rents are the lesser of: The fair market rent for existing housing for comparable units in the area as established by HUD under 24 CFR 888.111; or A rent that does not exceed 30 percent of the adjusted income of a family whose annual income equals 65 percent of the median income for the area, as determined by HUD, with adjustments for number of bedrooms in the unit. The HOME rent limits provided by HUD will include average occupancy per unit and adjusted income assumptions. In rental projects with five or more HOME-assisted rental units, twenty (20) percent of the HOME-assisted units must be occupied by very low-income families and meet one of following rent requirements: The rent does not exceed 30 percent of the annual income of a family whose income equals 50 percent of the median income for the area, as determined by HUD, with adjustments for smaller and larger families. HUD provides the HOME rent limits which include average occupancy per unit and adjusted income assumptions. However, if the rent determined under this paragraph is higher than the applicable rent under 24 CFR 92.252(a), then the maximum rent for units under this paragraph is that calculated under 24 CFR 92.252(a). The rent does not exceed 30 percent of the family's adjusted income. If the unit receives Federal or State project-based rental subsidy and the very low-income family pays as a contribution toward rent not more than 30 percent of the family's adjusted income, then the maximum rent (i.e., tenant contribution plus project-based rental subsidy) is the rent allowable under the Federal or State project-based rental subsidy program. Fair Market Rents are established by HUD each year for the Section 8 Program. For more information on the annual calculation of Fair Market Rents, visit the Fair Market Rents page. The FMRs for unit sizes larger than 4 bedroom are calculated by adding 15 percent to the 4 bedroom FMR for each extra bedroom. For example, the FMR for a 5 bedroom unit is 1.15 times the 4 bedroom FMR, and the FMR for a 6 bedroom unit is 1.30 times the 4 bedroom FMR, and so on... 5 BR = 1.15 x 4 BR FMR 6 BR = 1.30 x 4 BR FMR 7 BR = 1.45 x 4 BR FMR 8 BR = 1.60 x 4 BR FMR 9 BR = 1.75 x 4 BR FMR 10 BR = 1.90 x 4 BR FMR 11 BR = 2.05 x 4 BR FMR 12 BR = 2.20 x 4 BR FMR Note: The FY 2024 HOME Rent Limits effective date is June 01, 2024.

In 2025, the average Fair Market Rent for a two-bedroom rental home in the United States was 1,749 U.S. dollars per month, while that of a one-bedroom rental home was 1,465 U.S. dollars per month. This rent level was unaffordable for the average household with one full-time worker earning the federal minimum wage in that year.

The average monthly rent in California for a two-bedroom apartment was ***** U.S. dollars in 2025, while a one-bedroom unit cost ******U.S. dollars. Only renters who earn the area median income (AMI) can afford two-bedroom housing in California. Rent affordable to renters with full-time jobs at mean renter wage, or 30 percent area median income, was lower than the fair market rent of a two-bedroom and one-bedroom apartment in California, making this housing in this state not affordable for them. The rent in California ranked highest among all other states in the United States for a two bedroom apartment in 2025.

The fair market monthly rent in Florida for a two-bedroom apartment was ******U.S. dollars in 2025. Only renters who earn the area median income (AMI) can afford this housing in Florida. Rent affordable to renters with full-time jobs at mean renter wage or 30 percent area median income was lower than the fair market rent of a two-bedroom apartment and one-bedroom apartment in Florida, making housing in this state not affordable for them. The rent in Florida ranks ******among all other states in the United States for a two bedroom apartment.

This is a map to assist Department of Housing & Community Development staff determine if properties qualify for ARPA and repair funds.Targeted Rehab Boundaries Boundaries for the West Dallas Targeted Rehab Program (Census Tracts 106.01, 160.02, 105, 205, 101.01, 101.02, 43) and Tenth Street Rehab Program (Historic Tenth Street). Home repair programs available in these areas: Housing & Neighborhood Revitalization Targeted Rehabilitation Program (TRP) (dallascityhall.com) Unserved Areas Dallas Water Utilities (DWU) 's Unserved Areas Report identified geographical areas that need water and/or wastewater services throughout the City. DWU is in the process of building out service in these areas. (2020 update) Home repair programs available in these areas: Housing & Neighborhood Revitalization ARPA Septic Tank (dallascityhall.com) QCTs This service contains a list of census tracts that qualify for the American Rescue Plan Act (ARPA).  The list was provided to EGIS by BMS.  The data used to produce this service can be found at Qualified Census Tracts and Difficult Development Areas | HUD USER. Low-Income Housing Tax Credit Qualified Census Tracts must have 50 percent of households with incomes below 60 percent of the Area Median Gross Income (AMGI) or have a poverty rate of 25 percent or more. Difficult Development Areas (DDA) are areas with high land, construction and utility costs relative to the area median income and are based on Fair Market Rents, income limits, the 2010 census counts, and 5-year American Community Survey (ACS) data. Maps of Qualified Census Tracts and Difficult Development Areas are available at: 2022 and 2023 Small DDAs and QCTs | HUD USER. Qualified Census Tracts - Generate QCT Tables for Individual Areas (Also Includes DDA Information) This data was created by the Department of Housing and Urban Development in 2023.  This data is updated on a yearly basis.  Updated ARPA boundaries ARPA Home Repair Program boundaries for qualified neighborhoods. Home repair programs available in these areas: American Rescue Plan Act Neighborhood Revitalization Program (dallascityhall.com) (Limited availability, applications accepted based on funding available) Equity Strategy Target AreasThe Department of Housing & Neighborhood Revitalization (Housing) with the assistance of TDA Consultants selected three Equity Strategy Target Areas (ESTAs) for the implementation of the Dallas Housing Policy 2033 (DHP33). This layer contains boundaries as of January 2024. Housing will be collaborating with other City of Dallas departments and development and preservation partners to target housing and neighborhood revitalization projects in these areas. The Equity Strategy Target Areas (ESTAs) were selected using an Equity Index created by TDA consultants and the Housing Department. The Equity Index is based upon the 2023 Market Value Analysis, the City of Dallas OEI Equity Impact Assessment Tool (EIA), and the potential investment from the Dallas Water Utility Unserved Areas Program.Housing Opportunity Fund TIF District AreasThis is the Housing Opportunity Fund TIF District map for Housing & Community Development and Economic Development in the City of Dallas. The three TIF districts in this map are areas within the City of Dallas with select TIF funds for homeowner stabilization programs that may include Home Improvement and Preservation Programs (HIPP) and the Dallas Homebuyer Assistance Program (DHAP). The three Housing Opportunity Fund TIF districts are: the Oak Cliff Housing TIF, the Fort Worth Avenue Housing TIF, and the Deep Ellum Housing TIF. Housing & Community Development is starting to implement these areas in 2025.

Rent Payment Reporting Enablement Market Outlook

According to our latest research, the Global Rent Payment Reporting Enablement market size was valued at $1.2 billion in 2024 and is projected to reach $4.5 billion by 2033, expanding at a robust CAGR of 15.7% during the forecast period of 2025–2033. One of the major factors driving the growth of the rent payment reporting enablement market globally is the increasing demand for financial inclusion and credit building among tenants, particularly in urban centers where rental housing is a significant component of the real estate sector. The ability to report rent payments to credit bureaus not only empowers tenants to build or improve their credit profiles but also incentivizes timely payments, benefiting landlords and property managers with improved cash flows and reduced delinquencies. Additionally, the integration of advanced software solutions and cloud-based platforms is streamlining the reporting process, making it more accessible and scalable for all stakeholders in the rental ecosystem.

Regional Outlook

North America currently holds the largest share of the global rent payment reporting enablement market, accounting for over 38% of the total market value in 2024. This dominance is attributed to a mature rental market, widespread digital adoption, and robust regulatory frameworks that encourage financial transparency and credit accessibility. The United States, in particular, leads the region due to the presence of established credit bureaus, a high rate of urbanization, and a large population of renters seeking credit-building opportunities. The proliferation of innovative fintech platforms and strategic partnerships between property management firms and financial institutions further bolster the region’s leadership. Moreover, policy initiatives aimed at promoting fair housing and tenant rights have accelerated the adoption of rent payment reporting solutions among property managers and landlords.

The Asia Pacific region is poised to be the fastest-growing market for rent payment reporting enablement, projected to register a CAGR of 19.2% through 2033. This rapid growth is driven by increasing urbanization, a burgeoning middle class, and a digital transformation wave sweeping across emerging economies such as India, China, and Southeast Asian countries. Significant investments in proptech startups and the expansion of cloud infrastructure are facilitating the adoption of digital rent payment and reporting platforms. Governments in the region are also taking steps to improve financial inclusion, which is encouraging both tenants and landlords to embrace rent reporting as a tool for credit access. The rise of mobile banking and digital wallets further supports seamless integration of rent payment data into credit systems, amplifying market growth.

In emerging economies across Latin America and Middle East & Africa, the adoption of rent payment reporting enablement solutions is gaining traction but faces unique challenges. These include limited digital infrastructure, lower financial literacy, and fragmented rental markets dominated by informal arrangements. However, localized demand is on the rise as fintech companies and microfinance institutions recognize the potential for rent reporting to drive financial inclusion and credit access. Policy reforms aimed at formalizing rental markets and incentivizing digital payments are gradually improving the adoption landscape. Nonetheless, widespread uptake will depend on overcoming infrastructural barriers and increasing awareness among both landlords and tenants about the long-term benefits of rent payment reporting.

Report Scope

In 2025, the average monthly rent affordable to a family of four with a household income at the poverty line was 804 U.S. dollars. However, the average fair market rent for a two-bedroom rental home was 1,749 U.S. dollars per month in that year.

This service contains a list of census tracts that qualify for the American Rescue Plan Act (ARPA) . The list was provided to EGIS by BMS. The data used to produce this service can be found at Qualified Census Tracts and Difficult Development Areas | HUD USER.Low-Income Housing Tax Credit Qualified Census Tracts must have 50 percent of households with incomes below 60 percent of the Area Median Gross Income (AMGI) or have a poverty rate of 25 percent or more. Difficult Development Areas (DDA) are areas with high land, construction and utility costs relative to the area median income and are based on Fair Market Rents, income limits, the 2010 census counts, and 5-year American Community Survey (ACS) data. Maps of Qualified Census Tracts and Difficult Development Areas are available at: 2023 and 2024 Small DDAs and QCTs | HUD USER.Qualified Census Tracts - Generate QCT Tables for Individual Areas (Also Includes DDA Information)This data was created by the Department of Housing and Urban Development in 2023. This data is updated on a yearly basis.

In 2025, a two-bedroom apartment at a fair market rent in New York HMFA and Westchester County Statutory Exception Area would require renters to earn at least ******U.S. dollars per hour, making it the most expensive metropolitan areas to rent in New York. The Nassau-Suffolk HMFA ranked second most expensive, with a minimum hourly wage requirement of ******U.S. dollars for a two-bedroom apartment. On the other hand, Yates County HMFA was the most affordable areas requiring renters to earn less than ** U.S. dollars to afford renting a two-bedroom apartment. The monthly fair market rent required for a two-bedroom apartment in New York during this period was between ******and ***** U.S. dollars depending on the metropolitan area.

Rents for industrial real estate in the U.S. have increased since 2017, with flexible/service space reaching the highest price per square foot in 2024. In just a year, the cost of, flex/service space rose by nearly *****U.S. dollars per square foot. Manufacturing facilities, warehouses, and distribution centers had lower rents and experienced milder growth. Los Angeles, Orange County, and Inland Empire, California, are some of the most expensive markets in the country. Office real estate is pricier Industrial real estate is far from being the most expensive commercial property type. For instance, average rental rates in major U.S. metros for office space are much higher than those for industrial space. This is most likely because office units are generally located in urban areas where there is limited space and thus higher demand, whereas industrial units are more suited to the outskirts of such urban areas. Industrial units, such as warehouses or factories, require much more space because they need to house large, heavy equipment or serve as a storage unit for future shipments. Big-box distribution space is gaining in importance Warehouses and distribution may currently command the lowest average rent per square foot among industrial space types, but the growing popularity of the asset class has earned it considerable gains over the past years. In 2021 and 2022, high occupier demand and insufficient supply led to soaring taking rent of big-box buildings. During that time, the vacancy rate of distribution centers fell below ****percent. The development of industrial and logistics facilities has accelerated since then, with the new supply coming to market, causing the vacancy rate to increase and the pressures on rent to ease.

More than one minimum wage job was required to afford two-bedroom housing in all states in the United States in 2025. At mean wage, Hawaii was the most expensive state, requiring renters to hold about *** full-time jobs at a mean wage to afford two-bedroom housing. The fair market rent value of two bedroom housing in Hawaii ranked *******most expensive among all states in the United States in 2025.

The monthly rent of mobile homes in the U.S. has gradually increased since 2010, peaking in 2024. In the third quarter of that year, the average monthly rent for manufactured homes was *** U.S. dollars. Similarly, apartment rents also soared in 2022, followed by a slight decline in the next two years. Where in the U.S. are manufactured homes most popular? States with a growing economy and large population provide the best opportunities for manufactured housing. In September 2023, Texas had the highest number of mobile homes in the United States. Other states with a high number of mobile homes were North Carolina and Florida. Moreover, Texas also boasted the highest number of manufactured home production plants. Affordability of mobile homes across the U.S. Manufactured homes are considerably less expensive than regular homes, which makes them an attractive option for people looking to purchase property without breaking the bank. Mobile homes are cheaper because manufacturers benefit from economies of scale due to large-scale production, which allows them to lower costs per unit. Additionally, mobile homes lose value faster than traditional homes, which can make them more affordable to purchase initially. The average sales price for a new mobile home has been on the rise, but during the housing boom in 2021, it increased dramatically.