On September 1, HUD published FY 2023 Fair Market Rents (FMRs). FMRs are published annually and are an estimate of the amount of money that would cover gross rents (rent and utility expenses) on 40 percent of the rental housing units in an area. Nationally, FMRs will increase by an average of approximately 10 percent, to enable more households with housing vouchers to access affordable, stable housing. Read HUD’s press release. Click here for FY 2023 FMRs.

For a comparison of the 2022 and 2023 FMRs for the Charlotte-Concord-Gastonia, NC (Cabarrus, Gaston, Mecklenburg, and Union) area.