Fair market rents · FY 2027 · effective October 1, 2026
U.S. territories: FY 2027 fair market rents
HUD publishes one FY 2027 Fair Market Rent for each of these territories: Guam at $1,449, St. Croix Island, VI at $1,237, St. John Island, VI at $2,025, St. Thomas Island, VI at $1,509, American Samoa at $942 and Northern Mariana Islands at $988 for a 2-bedroom.
FMRs are HUD's estimate of the 40th percentile gross rent (rent plus utilities) paid by recent movers into standard-quality units. Housing agencies set voucher payment standards from them. Source: HUD FY 2027 FMR file, 91 FR 56156 (published September 1, 2026). This site is not HUD.
Every HUD rent area, FY 2027
6 HUD FMR areas cover 6 territories. Monthly gross rent by bedroom count. The trend line is the 2-bedroom FMR from FY 2017 to FY 2027.
Biggest one-year move up: St. Thomas Island, VI, +2.9%. Biggest move down: Guam, −8.8%. HUD caps a one-year drop at 10%.
Guam
| HUD area | Studio | 1BR | 2BR | 3BR | 4BR | 1 yr | 5 yr | FY17 to FY27 |
|---|---|---|---|---|---|---|---|---|
| Guam | 1,009 | 1,117 | 1,449 | 2,006 | 2,422 | −8.8% | −1.2% |
U.S. Virgin Islands
| HUD area | Studio | 1BR | 2BR | 3BR | 4BR | 1 yr | 5 yr | FY17 to FY27 |
|---|---|---|---|---|---|---|---|---|
| St. Croix Island | 1,029 | 1,035 | 1,237 | 1,497 | 1,626 | −1.0% | +14.3% | |
| St. John Island | 1,607 | 1,617 | 2,025 | 2,413 | 2,661 | +2.8% | +19.1% | |
| St. Thomas Island | 1,054 | 1,223 | 1,509 | 1,809 | 1,983 | +2.9% | +20.4% |
American Samoa
| HUD area | Studio | 1BR | 2BR | 3BR | 4BR | 1 yr | 5 yr | FY17 to FY27 |
|---|---|---|---|---|---|---|---|---|
| American Samoa | 656 | 720 | 942 | 1,304 | 1,575 | +2.5% | +15.9% |
Northern Mariana Islands
| HUD area | Studio | 1BR | 2BR | 3BR | 4BR | 1 yr | 5 yr | FY17 to FY27 |
|---|---|---|---|---|---|---|---|---|
| Northern Mariana Islands | 688 | 755 | 988 | 1,368 | 1,650 | +2.4% | +23.5% |
Dollars per month, FY 2027 file as published September 1, 2026; rows marked R show FY 2026. "1 yr" compares the FY 2027 2BR with FY 2026, "5 yr" with FY 2022. HUD's methods changed over these years, so part of any move is method, not market. Area names are HUD's.
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We'll write once when HUD publishes FY 2028 Fair Market Rents, or revised FY 2027 figures, for your ZIP's HUD area. HUD's FY 2028 starts October 1, 2027.
Using these numbers on a rental
The FMR sets the range for voucher payments; it is not a rent estimate for your unit. A housing agency picks a payment standard between 90% and 110% of it, then checks your asking rent against similar unassisted units nearby. Both figures cover rent plus utilities, so the agency's allowance for any utilities the tenant pays comes off the top.
Take a 2-bedroom at the FMR, a payment standard at 100% of FMR, and a $150 utility allowance (an example; each agency publishes its own schedule). Then the voucher can cover a contract rent of up to the FMR minus $150 (the FMR minus $150), with the tenant paying the usual 30% of income. How to underwrite with FMR works through the rest.