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FY 2014 Fair Market Rent Documentation System

The Final FY 2014 Williams County FMRs for All Bedroom Sizes

The following table shows the Final FY 2014 FMRs by unit bedrooms for Williams County.

Final FY 2014 FMRs By Unit Bedrooms
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$792 $864 $1,053 $1,311 $1,407

FY 2014 FMR areas continue to use the revised Office of Management and Budget (OMB) area definitions that were first issued in 2003 along with HUD defined Metropolitan areas (HMFAs) as described in the FY2011 FMR documentation, which can be found at (Williams County FY2011 FMR Documentation system). No changes have been made to these OMB-defined areas since the publication of Final FY2011 FMRs

Fair Market Rent Calculation Methodology

Show/Hide Methodology Narrative

Fair Market Rents for Williams County are developed as follows:

  1. A local rent survey was conducted for Williams County. This survey estimate is used as the basis for FY2014 rather than the 5-year American Community Survey (ACS).
  2. Depending on the date of the local rent survey, the base rent is updated to April 2014 using either a trending factor of 2.68 percent per year or a combination of the trend factor and national CPI data.

The results of the Fair Market Rent Step-by-Step Process

  1. A local rent survey was conducted in or around April 2013 for Williams County. The estimate of rent from this survey is used as the base for FY2014 FMRs.
  2. The survey base rent is updated to April FY2014 using the national trend factor of 2.68% per year as illustrated in the following table:
    Local Survey Base RentUpdate FactorFinal FY2014 FMR
    $1,0261.0268 $1,053

Final FY 2014 Rents for All Bedroom Sizes for Williams County, ND

The following table shows the Final FY 2014 FMRs by bedroom sizes. The FMRs for units with different numbers of bedrooms are computed from the ratio of the 40th percentile adjusted standard quality gross rent for the different unit sizes to the 40th percentile adjusted standard quality 2-Bedroom gross rent from the 2006-2010 5-year ACS. These Rent Ratios are applied to the Final FY 2014 2-Bedroom FMR to determine the Final FY 2014 FMRs for the different size units.

Click on the links in the table to see how the bedroom rents were derived.

Final FY 2014 FMRs By Unit Bedrooms
  Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
Final FY 2014 FMR $792 $864 $1,053 $1,311 $1,407

The FMRs for unit sizes larger than four bedrooms are calculated by adding 15 percent to the four bedroom FMR, for each extra bedroom. For example, the FMR for a five bedroom unit is 1.15 times the four bedroom FMR, and the FMR for a six bedroom unit is 1.30 times the four bedroom FMR. FMRs for single-room occupancy units are 0.75 times the zero bedroom (efficiency) FMR.

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Prepared by the Economic and Market Analysis Division, HUD. Technical Problems or questions? Contact Us.