There is a lot of terminology surrounding Fair Market Rents. Here we will define some of the most common terms and highlight common points of confusion.
Fair Market Rent Definitions
In shared housing: Space available for use by the assisted family and other occupants of the unit. Also see "Private Space."
Housing for an elderly person or people with disabilities that meets the minimum Housing Quality Standards.
A family whose head, spouse, or sole member is a person with a disability. It may include two or more persons with disabilities living together, or one or more persons with disabilities living with one or more live-in aides.
A family in which each member was displaced by governmental action, or whose dwelling has been extensively damaged or destroyed as a result of a disaster declared or otherwise formally recognized pursuant to Federal disaster relief.
The legal residence of the household head or spouse as determined in accordance with State and local law.
Family whose head is over the age of 62.
Fair Market Rent
The rent amount, including utilities (except telephone), to rent privately owned, existing, decent, safe and sanitary rental housing of modest (non-luxury) nature with suitable amenities. See more >
A family includes, but is not limited to, the following, regardless of actual or perceived sexual orientation, gender identity, or marital status:
- A single person
- A group of people living together with or without children.
Ultimately a family designation is determined by the relevant PHA.
The portion of rent and utilities paid by the family. See "Total Tenant Payment" (TTP).
The sum of the rent to owner plus utilities (other then telephone).
The maximum monthly assistance payment to a family assisted in the housing voucher program before deducting the Total Tenant Payment (or Family Share) paid by the family. See more >
In shared housing: The portion of a contract unit that is for the exclusive use of an assisted family. Also see "Common Space."
Public Housing Agency (PHA)
State, county, municipality, or other governmental entity or public body which is authorized to administer the housing voucher program. Rather than the HUD administering the Section 8 program in communities all over the country, the HUD delegates administration of the program to local entities.
Single room occupancy housing (SRO)
A unit that contains no bathroom or kitchen, or contains one, but not both, types of facilities.
An individual or a family renting or occupying a dwelling unit.
Total Tenant Payment (TTP)
The portion of rent and utilities paid by the family. The TTP should equal 30 percent of the household's adjusted monthly income.