fair market rent

fair market rent definition - business

fair market rent

U.S. Department of Housing and Urban Development rent estimates used to determine the eligibility of rental housing units for housing assistance payments. The estimates are designed to be high enough to ensure an adequate supply of rental units, but low enough to serve as many families as possible.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.