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FY 2023 Fair Market Rent Documentation System

Final FY 2023 FMRs By Unit Bedrooms
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$1,093 $1,199 $1,578 $2,243 $2,688

Guam is a non-metropolitan county.

The FY 2023 Fair Market Rents for Guam are based on the results of a local rent survey conducted in December, 2019.

The locally conducted survey is more current than the available ACS data. Therefore HUD calculates the locally based survey 2-bedroom FMR using the following steps:

  1. The local survey is adjusted to 2019 dollars by multiplying the survey rent value for 2019 by the annual CPI-based Gross Rent value for 2019 divided by the CPI-based Gross Rent value for December, 2019. This calculation is:

    $1,362 * (255.647/258.263) =

    $1,348

  2. The annually adjusted survey value of $1,348 is augmented by the growth in gross rents from the West Census region measured between 2019 and 2021, using annual inflation factors for each year. This calculation is:

    $1,348 * 1.0329 * 1.0345   =

    $1,441

  3. The CPI adjusted survey value of $1,441 is trended forward to the mid-point of FY2023 using the West Census region trend factor of 1.0951. This calculation is:

    $1,441 * 1.0951   =

    $1,578

Permanent link to this page: http://www.huduser.gov/portal/datasets/fmr/fmrs/FY2023_code/2023summary.odn?&year=2023&fmrtype=Final&selection_type=county&fips=6601099999

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