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FY 2025 Fair Market Rent Documentation System

The FINAL FY 2025 St. Thomas Island, VI FMRs for All Bedroom Sizes

FINAL FY 2025 & Final FY 2025 FMRs By Unit Bedrooms
Year Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
FY 2025 FMR $1,101 $1,282 $1,605 $1,934 $2,128
FY 2024 FMR $1,059 $1,249 $1,563 $1,890 $2,082

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 2025. This 2010 value is updated to 2022 using the change in national 50th percentile gross rents from 2010 to 2022 according to the American Community Survey (ACS). This 2022 value is updated to 2023 using a weighted Private data & Consumer Price Index-based regional update factor. Finally, the 2024 value is made "as of" FY2025 using a "trend factor" forecast of the CPI.

  1. Determine the appropriate base rent for St. Thomas Island, VI:

    40th Percentile Adjusted Standard Quality Gross Rents 40th Percentile Adjusted Standard Quality Gross Rents - Recent Movers Base Rent
    $841 $903 $903 ≥ $841
    Use base rent of $903

  2. Update the base rent to 2022:

    2010 National 50th Percentile Gross Rents 2022 National 50th Percentile Gross Rents Updated Base Rent
    $856 $1,302 $903 *($1,302/$856)=$1,373

  3. A gross rent inflation adjustment factor is applied based on a weighted average of a private rental data gross rent factor and a Consumer Price Index gross rent factor. Since St. Thomas Island, VI is not covered by at least 3 private data sources, a region-based private rent factor is applied. Similarly, since St. Thomas Island, VI is not covered by a local CPI rent area, a region-based CPI gross rent factor is applied.

    Components of 2023 Inflation Adjustment Factor for St. Thomas Island, VI
    R2023= Shelter Rent Change, 2022 to 2023 U2023 = CPI Annual Utilities Change, 2022 to 2023 C2023 = ACS Utility Cost as a Percent of Gross Rent Gross Rent Inflation Factor Calculation = (R2023 x (1-C2023) + U2023 x C2023) Inflation Factor Type
    P2023= Private Inflation Factor 1.04909 1.04245 0.15038 (1.04909 * 0.849624) + (1.04245 * 0.1503760000000)=
    1.04809    		 Region
    CPI2023= CPI Inflation Factor 1.09805 1.04245 0.15038 (1.09805 * 0.849624) + (1.04245 * 0.15038)=
    1.08969    		 Region

    The 2023 Gross Rent Inflation Factor for St. Thomas Island, VI is computed as follows:

    = CPI2023 x (1-W2023) + P2023 x W2023

    = (1.08969 x 0.2501) + (1.04809 x 0.7499)

    = (0.272531) + (0.785963)

    = 1.05850

  4. The calculation of the Trend Factor is as follows: HUD uses the forecasted change in gross rents from 2023 to 2025 for each CPI area and Census Region. This makes Fair Market Rents "as of" FY2025.
    Trend Factor Trend Factor Type
    Trend Factor 1.1043 Region

  5. The FY 2025 2-Bedroom Fair Market Rent for St. Thomas Island, VI is calculated as follows:

    Updated Base Rent Inflation Update Factor Trend Factor FY2025 2 Bedroom Fair Market Rent
    $1,373      * 1.05850      * 1.10429      = $1,605

Permanent link to this page: http://www.huduser.gov/portal/datasets/fmr/fmrs/FY2025_code/2025summary.odn?&year=2025&fmrtype=FINAL&selection_type=county&fips=7803099999

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Prepared by the Program Parameters and Research Division, HUD. Technical problems or questions? Contact Us.