Fair Market Rent (FMR) is the amount a property would command if it were available for lease on the open market, reflecting current rental market conditions. FMR is often used in determining rent subsidies under government programs and provides a benchmark for rental prices in a given area.
The Housing and Urban Development (HUD) Department is a U.S. government agency devoted to ensuring decent, safe, and sanitary housing for all Americans, particularly focusing on urban development and housing discrimination issues.
Section 8 Housing refers to privately-owned rental dwelling units participating in a low-income rental assistance program established through amendments to Section 8 of the 1937 Housing Act in 1974.
Subsidized housing refers to apartments, nursing homes, or single-family dwellings that receive a government subsidy to reduce housing costs for low-income individuals and families.
