# Multifamily Today

> FY 2027 HUD Fair Market Rents and Small Area FMRs for every county and ZIP, with ten years of history, plus DSCR and rental cash-flow calculators.

Multifamily Today is published by Janover Capital LLC. Contact: desk@janover.co.

## For AI assistants
- MCP server (free, read-only, no key): https://multifamily.today/mcp. Tools: county and ZIP fair market rents, state summaries, comparisons. Setup: https://multifamily.today/developers/

## Pages
- [What Section 8 rents are based on, county by county and ZIP by ZIP](https://multifamily.today/): HUD's FY 2027 Fair Market Rents and Small Area FMRs for every county and ZIP, ten years of history, and DSCR and rental cash-flow calculators.
- [About Multifamily Today](https://multifamily.today/about/): Multifamily Today publishes HUD's Fair Market Rents for landlords. Operated by Janover Capital LLC, a commercial mortgage brokerage. Not HUD.
- [Contact Multifamily Today](https://multifamily.today/contact/): Send Multifamily Today a question or request. We read every message and reply by email.
- [HUD FMR and SAFMR data: sources, downloads and API](https://multifamily.today/data/): HUD FY 2027 Fair Market Rents by county and Small Area FMRs by ZIP as free CSV and JSON downloads, with sources, checks, license and API.
- [Fair market rent data for AI assistants and developers: MCP server](https://multifamily.today/developers/): Free MCP server for HUD FY 2027 Fair Market Rents by county and ZIP, with history and state summaries, for Claude, ChatGPT and other AI assistants.
- [Disclosures](https://multifamily.today/disclosures/): Not HUD or a housing agency, public data, fair housing, business-purpose loans only, how leads are shared, and what the calculators can't tell you.
- [DSCR calculator for rental properties: ratio and max loan](https://multifamily.today/dscr-calculator/): Work out a rental property DSCR from rent, taxes, insurance, HOA and the loan, then see the largest loan the rent supports at the ratio a lender wants.
- [Fair market rent by state, FY 2027: HUD FMRs for every county](https://multifamily.today/fair-market-rent/): HUD FY 2027 Fair Market Rents for every state, county and ZIP code: median 2-bedroom FMR, the range, and one-year and five-year change, effective Oct 1, 2026.
- [Alabama fair market rents, FY 2027](https://multifamily.today/fair-market-rent/alabama/): HUD FY 2027 Fair Market Rents for all 67 Alabama counties: median 2BR $975, 1-year and 5-year change, ten-year trend.
- [Alaska fair market rents, FY 2027](https://multifamily.today/fair-market-rent/alaska/): HUD FY 2027 Fair Market Rents for all 30 Alaska boroughs and census areas: median 2BR $1,512.5, 1-year and 5-year change, ten-year trend.
- [Arizona fair market rents, FY 2027](https://multifamily.today/fair-market-rent/arizona/): HUD FY 2027 Fair Market Rents for all 15 Arizona counties: median 2BR $1,244, 1-year and 5-year change, ten-year trend.
- [Arkansas fair market rents, FY 2027](https://multifamily.today/fair-market-rent/arkansas/): HUD FY 2027 Fair Market Rents for all 75 Arkansas counties: median 2BR $909, 1-year and 5-year change, ten-year trend.
- [California fair market rents, FY 2027](https://multifamily.today/fair-market-rent/california/): HUD FY 2027 Fair Market Rents for all 58 California counties: median 2BR $1,725, 1-year and 5-year change, ten-year trend.
- [Colorado fair market rents, FY 2027](https://multifamily.today/fair-market-rent/colorado/): HUD FY 2027 Fair Market Rents for all 64 Colorado counties: median 2BR $1,374.5, 1-year and 5-year change, ten-year trend.
- [Connecticut fair market rents, FY 2027](https://multifamily.today/fair-market-rent/connecticut/): HUD FY 2027 Fair Market Rents for all 169 Connecticut towns: median 2BR $1,933, 1-year and 5-year change, ten-year trend.
- [Delaware fair market rents, FY 2027](https://multifamily.today/fair-market-rent/delaware/): HUD FY 2027 Fair Market Rents for all 3 Delaware counties: median 2BR $1,629, 1-year and 5-year change, ten-year trend.
- [District of Columbia fair market rents, FY 2027](https://multifamily.today/fair-market-rent/district-of-columbia/): HUD FY 2027 Fair Market Rents for District of Columbia: 2-bedroom $2,438, studio to 4 bedrooms, 1-year and 5-year change and ten-year trend.
- [Florida fair market rents, FY 2027](https://multifamily.today/fair-market-rent/florida/): HUD FY 2027 Fair Market Rents for all 67 Florida counties: median 2BR $1,474, 1-year and 5-year change, ten-year trend.
- [Georgia fair market rents, FY 2027](https://multifamily.today/fair-market-rent/georgia/): HUD FY 2027 Fair Market Rents for all 159 Georgia counties: median 2BR $1,058, 1-year and 5-year change, ten-year trend.
- [Hawaii fair market rents, FY 2027](https://multifamily.today/fair-market-rent/hawaii/): HUD FY 2027 Fair Market Rents for all 5 Hawaii counties: median 2BR $2,326, 1-year and 5-year change, ten-year trend.
- [Idaho fair market rents, FY 2027](https://multifamily.today/fair-market-rent/idaho/): HUD FY 2027 Fair Market Rents for all 44 Idaho counties: median 2BR $1,126.5, 1-year and 5-year change, ten-year trend.
- [Illinois fair market rents, FY 2027](https://multifamily.today/fair-market-rent/illinois/): HUD FY 2027 Fair Market Rents for all 102 Illinois counties: median 2BR $957.5, 1-year and 5-year change, ten-year trend.
- [Indiana fair market rents, FY 2027](https://multifamily.today/fair-market-rent/indiana/): HUD FY 2027 Fair Market Rents for all 92 Indiana counties: median 2BR $1,085.5, 1-year and 5-year change, ten-year trend.
- [Iowa fair market rents, FY 2027](https://multifamily.today/fair-market-rent/iowa/): HUD FY 2027 Fair Market Rents for all 99 Iowa counties: median 2BR $927, 1-year and 5-year change, ten-year trend.
- [Kansas fair market rents, FY 2027](https://multifamily.today/fair-market-rent/kansas/): HUD FY 2027 Fair Market Rents for all 105 Kansas counties: median 2BR $961, 1-year and 5-year change, ten-year trend.
- [Kentucky fair market rents, FY 2027](https://multifamily.today/fair-market-rent/kentucky/): HUD FY 2027 Fair Market Rents for all 120 Kentucky counties: median 2BR $925, 1-year and 5-year change, ten-year trend.
- [Louisiana fair market rents, FY 2027](https://multifamily.today/fair-market-rent/louisiana/): HUD FY 2027 Fair Market Rents for all 64 Louisiana parishes: median 2BR $995, 1-year and 5-year change, ten-year trend.
- [Maine fair market rents, FY 2027](https://multifamily.today/fair-market-rent/maine/): HUD FY 2027 Fair Market Rents for all 529 Maine towns: median 2BR $1,367, 1-year and 5-year change, ten-year trend.
- [Maryland fair market rents, FY 2027](https://multifamily.today/fair-market-rent/maryland/): HUD FY 2027 Fair Market Rents for all 24 Maryland counties: median 2BR $1,875, 1-year and 5-year change, ten-year trend.
- [Massachusetts fair market rents, FY 2027](https://multifamily.today/fair-market-rent/massachusetts/): HUD FY 2027 Fair Market Rents for all 351 Massachusetts towns: median 2BR $2,367, 1-year and 5-year change, ten-year trend.
- [Michigan fair market rents, FY 2027](https://multifamily.today/fair-market-rent/michigan/): HUD FY 2027 Fair Market Rents for all 83 Michigan counties: median 2BR $1,085, 1-year and 5-year change, ten-year trend.
- [Minnesota fair market rents, FY 2027](https://multifamily.today/fair-market-rent/minnesota/): HUD FY 2027 Fair Market Rents for all 87 Minnesota counties: median 2BR $1,048, 1-year and 5-year change, ten-year trend.
- [Mississippi fair market rents, FY 2027](https://multifamily.today/fair-market-rent/mississippi/): HUD FY 2027 Fair Market Rents for all 82 Mississippi counties: median 2BR $905, 1-year and 5-year change, ten-year trend.
- [Missouri fair market rents, FY 2027](https://multifamily.today/fair-market-rent/missouri/): HUD FY 2027 Fair Market Rents for all 116 Missouri counties: median 2BR $962, 1-year and 5-year change, ten-year trend.
- [Montana fair market rents, FY 2027](https://multifamily.today/fair-market-rent/montana/): HUD FY 2027 Fair Market Rents for all 56 Montana counties: median 2BR $1,310, 1-year and 5-year change, ten-year trend.
- [Nebraska fair market rents, FY 2027](https://multifamily.today/fair-market-rent/nebraska/): HUD FY 2027 Fair Market Rents for all 93 Nebraska counties: median 2BR $1,014, 1-year and 5-year change, ten-year trend.
- [Nevada fair market rents, FY 2027](https://multifamily.today/fair-market-rent/nevada/): HUD FY 2027 Fair Market Rents for all 17 Nevada counties: median 2BR $1,327, 1-year and 5-year change, ten-year trend.
- [New Hampshire fair market rents, FY 2027](https://multifamily.today/fair-market-rent/new-hampshire/): HUD FY 2027 Fair Market Rents for all 259 New Hampshire towns: median 2BR $1,734, 1-year and 5-year change, ten-year trend.
- [New Jersey fair market rents, FY 2027](https://multifamily.today/fair-market-rent/new-jersey/): HUD FY 2027 Fair Market Rents for all 21 New Jersey counties: median 2BR $2,233, 1-year and 5-year change, ten-year trend.
- [New Mexico fair market rents, FY 2027](https://multifamily.today/fair-market-rent/new-mexico/): HUD FY 2027 Fair Market Rents for all 33 New Mexico counties: median 2BR $1,063, 1-year and 5-year change, ten-year trend.
- [New York fair market rents, FY 2027](https://multifamily.today/fair-market-rent/new-york/): HUD FY 2027 Fair Market Rents for all 62 New York counties: median 2BR $1,385, 1-year and 5-year change, ten-year trend.
- [North Carolina fair market rents, FY 2027](https://multifamily.today/fair-market-rent/north-carolina/): HUD FY 2027 Fair Market Rents for all 100 North Carolina counties: median 2BR $1,145, 1-year and 5-year change, ten-year trend.
- [North Dakota fair market rents, FY 2027](https://multifamily.today/fair-market-rent/north-dakota/): HUD FY 2027 Fair Market Rents for all 53 North Dakota counties: median 2BR $1,014, 1-year and 5-year change, ten-year trend.
- [Ohio fair market rents, FY 2027](https://multifamily.today/fair-market-rent/ohio/): HUD FY 2027 Fair Market Rents for all 88 Ohio counties: median 2BR $1,048, 1-year and 5-year change, ten-year trend.
- [Oklahoma fair market rents, FY 2027](https://multifamily.today/fair-market-rent/oklahoma/): HUD FY 2027 Fair Market Rents for all 77 Oklahoma counties: median 2BR $916, 1-year and 5-year change, ten-year trend.
- [Oregon fair market rents, FY 2027](https://multifamily.today/fair-market-rent/oregon/): HUD FY 2027 Fair Market Rents for all 36 Oregon counties: median 2BR $1,324.5, 1-year and 5-year change, ten-year trend.
- [Pennsylvania fair market rents, FY 2027](https://multifamily.today/fair-market-rent/pennsylvania/): HUD FY 2027 Fair Market Rents for all 67 Pennsylvania counties: median 2BR $1,136, 1-year and 5-year change, ten-year trend.
- [Puerto Rico fair market rents, FY 2027](https://multifamily.today/fair-market-rent/puerto-rico/): HUD FY 2027 Fair Market Rents for all 78 Puerto Rico municipios: median 2BR $613, 1-year and 5-year change, ten-year trend.
- [Rhode Island fair market rents, FY 2027](https://multifamily.today/fair-market-rent/rhode-island/): HUD FY 2027 Fair Market Rents for all 39 Rhode Island towns: median 2BR $1,879, 1-year and 5-year change, ten-year trend.
- [South Carolina fair market rents, FY 2027](https://multifamily.today/fair-market-rent/south-carolina/): HUD FY 2027 Fair Market Rents for all 46 South Carolina counties: median 2BR $1,097.5, 1-year and 5-year change, ten-year trend.
- [South Dakota fair market rents, FY 2027](https://multifamily.today/fair-market-rent/south-dakota/): HUD FY 2027 Fair Market Rents for all 66 South Dakota counties: median 2BR $1,033, 1-year and 5-year change, ten-year trend.
- [Tennessee fair market rents, FY 2027](https://multifamily.today/fair-market-rent/tennessee/): HUD FY 2027 Fair Market Rents for all 95 Tennessee counties: median 2BR $1,048, 1-year and 5-year change, ten-year trend.
- [Texas fair market rents, FY 2027](https://multifamily.today/fair-market-rent/texas/): HUD FY 2027 Fair Market Rents for all 254 Texas counties: median 2BR $1,104.5, 1-year and 5-year change, ten-year trend.
- [U.S. territories: FY 2027 fair market rents](https://multifamily.today/fair-market-rent/us-territories/): HUD FY 2027 Fair Market Rents for Guam, the U.S. Virgin Islands, American Samoa and the Northern Mariana Islands, studio to 4 bedrooms, with history.
- [Utah fair market rents, FY 2027](https://multifamily.today/fair-market-rent/utah/): HUD FY 2027 Fair Market Rents for all 29 Utah counties: median 2BR $1,158, 1-year and 5-year change, ten-year trend.
- [Vermont fair market rents, FY 2027](https://multifamily.today/fair-market-rent/vermont/): HUD FY 2027 Fair Market Rents for all 256 Vermont towns: median 2BR $1,558, 1-year and 5-year change, ten-year trend.
- [Virginia fair market rents, FY 2027](https://multifamily.today/fair-market-rent/virginia/): HUD FY 2027 Fair Market Rents for all 133 Virginia counties: median 2BR $1,262, 1-year and 5-year change, ten-year trend.
- [Washington fair market rents, FY 2027](https://multifamily.today/fair-market-rent/washington/): HUD FY 2027 Fair Market Rents for all 39 Washington counties: median 2BR $1,467, 1-year and 5-year change, ten-year trend.
- [West Virginia fair market rents, FY 2027](https://multifamily.today/fair-market-rent/west-virginia/): HUD FY 2027 Fair Market Rents for all 55 West Virginia counties: median 2BR $955, 1-year and 5-year change, ten-year trend.
- [Wisconsin fair market rents, FY 2027](https://multifamily.today/fair-market-rent/wisconsin/): HUD FY 2027 Fair Market Rents for all 72 Wisconsin counties: median 2BR $1,040.5, 1-year and 5-year change, ten-year trend.
- [Wyoming fair market rents, FY 2027](https://multifamily.today/fair-market-rent/wyoming/): HUD FY 2027 Fair Market Rents for all 23 Wyoming counties: median 2BR $1,016, 1-year and 5-year change, ten-year trend.
- [Guides from Multifamily Today](https://multifamily.today/guides/): All guides from Multifamily Today, newest first. HUD fair market rents by county and ZIP, read for landlords.
- [Privacy policy](https://multifamily.today/privacy/): What Multifamily Today collects when you visit or contact us, why, who it is shared with, and how to reach us about it.
- [Apartment and rental portfolio loans: send the deal to a desk](https://multifamily.today/rental-loans/): Business-purpose financing for apartment buildings and rental portfolios of 5+ units: purchase or refinance. A person reads every request. No credit pull.
- [Rental property calculator: cash flow, cap rate, cash-on-cash](https://multifamily.today/rental-property-calculator/): Rental property cash flow calculator: rent, vacancy, operating costs and the loan in, monthly cash flow, NOI, cap rate, cash-on-cash and DSCR out.
- [Mandatory Small Area FMR areas: the 65 metros using ZIP rents](https://multifamily.today/small-area-fmr-areas/): The 65 metro areas where HUD requires housing agencies to set Section 8 payment standards from ZIP-level Small Area FMRs, with dates and FY 2027 rents.
- [Terms of use](https://multifamily.today/terms/): The terms that apply when you use Multifamily Today, including what the information here is and is not.

## Guides
- [DSCR loans, from the lender's side of the desk](https://multifamily.today/guides/dscr-loans/): A DSCR loan qualifies a rental on its rent instead of your income. How the ratio is figured, what lenders ask for, and how voucher rent and 5+ units change it.
- [How much Section 8 pays a landlord, step by step](https://multifamily.today/guides/how-section-8-rent-is-set/): The voucher pays the payment standard or the gross rent, whichever is lower, minus the tenant's share. How FMR, payment standards and the 40% rule fit.
- [Small Area FMRs, explained with Dallas](https://multifamily.today/guides/small-area-fair-market-rents/): Small Area FMRs are HUD's fair market rents by ZIP code. Where they are mandatory, how far they spread from the metro FMR, and what that does to voucher rents.
- [Using fair market rent to underwrite a rental](https://multifamily.today/guides/underwriting-a-rental-with-fair-market-rent/): How to turn HUD's FMR into a voucher rent you can underwrite, step by step, with a worked Columbus 3-bedroom example run through DSCR.