24 CFR 888.111 : Housing And Urban Development (§ 0.1 To Parts 4101-4199) — (§ 700.100 To Parts 1008-1699) — Regulations Relating To Housing And Urban Development (Continued) (§ 700.100 To Parts 1008-1699) — Office Of The Assistant Secretary For Housing-Federal Housing Commissioner, Department Of Housing And Urban Development (Section 8 Housing Assistance Programs, Section 202 Direct Loan Program, Section 202 Supportive Housing For The Elderly Program And Section 811 Supportive Housing For Persons With Disabilities Program) (Parts 800-810 To Parts 892-899) — Section 8 Housing Assistance Payments Program - Fair Market Rents And Contract Rent Annual Adjustment Factors (§ 888.111 To § 888.420) — Fair Market Rents (§ 888.111 To § 888.115) — Fair market rents for existing housing: Applicability.

(a) The fair market rents (FMRs) for existing housing are determined by HUD and are used in the Section 8 Housing Choice Voucher Program (“voucher program”) (part 982 of this title), Section 8 project-based assistance programs and other programs requiring their use. In the voucher program, the FMRs are used to determine payment standard schedules. In the Section 8 project-based assistance programs, the FMRs are used to determine the maximum initial rent (at the beginning of the term of a housing assistance payments contract).

(b) Fair market rent means the rent, including the cost of utilities (except telephone), as established by HUD, pursuant to this subpart, for units of varying sizes (by number of bedrooms), that must be paid in the market area to rent privately owned, existing, decent, safe and sanitary rental housing of modest (non-luxury) nature with suitable amenities.