Fair market rent

From Wikipedia, the free encyclopedia

Fair Market Rent is a term in real estate that indicates the amount of money that a given property would command, if it were open for leasing at the moment. The term is primarily used in the United States.

Fair market rent is an important concept both in the Housing and Urban Development's ability to determine how much of the rent is covered by the government for those tenants who are part of Section 8, as well as by other governmental institutions.^[1]

Fair market rent is sometimes used by appraisal districts to determine tax rates. ^[2]