Data Sources
fmr.fyi aggregates data from multiple authoritative sources to provide comprehensive Fair Market Rent information, investment analysis, and cash flow projections.
HUD Fair Market Rent (FMR)
U.S. Department of Housing and Urban Development
Official Fair Market Rent data published annually by HUD. FMRs are gross rent estimates that include the shelter rent plus the cost of all tenant-paid utilities. Used as payment standards for the Housing Choice Voucher (Section 8) program.
Small Area FMR (SAFMR)
U.S. Department of Housing and Urban Development
ZIP code-level Fair Market Rents for designated metropolitan areas. SAFMRs provide more granular rent data that reflects local market variations within metro areas.
Zillow Home Value Index (ZHVI)
Zillow Research
The Zillow Home Value Index represents the typical home value for a region. ZHVI is a smoothed, seasonally adjusted measure of the typical home value across a given region and housing type, calculated using a sophisticated algorithm that considers millions of home values.
Market Rent (RentCast)
RentCast
Estimated market rent from RentCast for ZIP code and bedroom count. Used to compute effective rent = min(FMR, market rent) per HUD rent reasonableness — Section 8 payments are capped at local market rates. FMR is used as fallback where market rent is unavailable.
Property Tax Rates
U.S. Census Bureau (American Community Survey)
Effective property tax rates calculated from ACS data on median property taxes paid and median property values. These represent the typical tax burden for homeowners in each area.
Mortgage Interest Rates
Freddie Mac Primary Mortgage Market Survey
Weekly average mortgage rates used in cash flow calculations. Includes 30-year fixed-rate mortgage averages, which are the standard for investment property financing assumptions.
Rental Demand Indicators
Multiple sources
Rental market demand metrics derived from housing occupancy rates, renter population percentages, and market vacancy data from Census surveys and other public sources.
Investment Score Methodology
Our proprietary Investment Score combines the data sources above to identify markets with strong Section 8 investment potential. The algorithm weights:
- Effective Rent: Income basis is min(FMR, market rent) per HUD rent reasonableness; FMR used where market rent is unavailable
- Rent-to-Value Ratio: Effective rent divided by median property value, measuring potential gross yield
- Tax Impact: Effective property tax rates that affect net operating income
- Market Demand: Rental demand indicators suggesting tenant availability
- Confidence Score: 0–100 scale reflecting data completeness; scores below 90% are capped at 129 (blue tier requires high confidence)
Important Disclaimer
While we strive for accuracy, all data is provided for informational purposes only. Local housing authorities may set different payment standards than published FMRs. Property values, tax rates, and other metrics are estimates and may differ from actual values. Always verify data with local sources and consult with professionals before making investment decisions.