Bar chart sowing increases in fair market rents in Fresno betwen 2018-19 and 2022-23.
HUD calculates Fair Market Rents based on the 40th percentile of rents for standard-quality units. The 40th percentile is the point at which 40% of apartments in a market cost less and 60% cost more per month. The estimates are used to calculate payment standards for federal housing programs.