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FY 2017 Fair Market Rent Documentation System

The Final FY 2017 FMRs for All Bedroom Sizes

Final FY 2017 FMRs By Unit Bedrooms
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$502 $506 $677 $987 $1,038

Fair Market Rent Calculation Methodology

For the United States Territories of American Samoa, Guam, Northern Mariana Islands, and the U.S. Virgin Islands, HUD calculates Fair Market Rents based on custom tabulations of the 2010 Island Areas Census. These tabulations provide 40th percentile adjusted gross rents for all renters and recent mover renters. The greater of these two values is used as the base rent for FY 2017. This 2010 value is update to 2014 using the change in national 50th percentile adjusted standard quality gross rents from 2010 to 2014 according to the American Community Survey (ACS). This 2014 value is updated to 2015 using a Consumer Price Index-based regional update factor. Finally, the 2016 value is made "as of" 2017 using a "trend factor".

  1. Determine the appropriate base rent for American Samoa:

    40th Percentile Adjusted Standard Quality Gross Rents 40th Percentile Adjusted Standard Quality Gross Rents - Recent Movers Base Rent
    $578 $579 $579 ≥ $578
    Use base rent of $579

  2. Update the base rent to 2014:

    2010 National 50th Percentile Adjusted Standard Quality Gross Rents 2014 50th Percentile Adjusted Standard Quality Gross Rents Updated Base Rent
    $862 $934 $579 *($934/$862)=$627

  3. The calculation of the relevant CPI Update Factors for American Samoa is as follows: HUD updates the 2014 intermediate rent with the ratio of the annual 2015 local or regional CPI to the annual 2014 local or regional CPI to establish rents as of 2015.

    4. Update Factor Type
    CPI Update Factor 1.0247 Region CPI
  4. The calculation of the Trend Factor is as follows: HUD uses the forecasted change in national gross rents from 2015 to 2017. This makes Fair Market Rents "as of" FY2017. For more information on the calculation of the trend factor, please see here.
    Trend Factor
    1.0531

  5. The FY 2017 2-Bedroom Fair Market Rent for American Samoa is calculated as follows:

    Updated Base Rent CPI Update Factor Trend Factor FY2017 2 Bedroom Fair Market Rent
    $627* 1.0247* 1.0531= $677

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