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Updated over 8 years ago on .

User Stats

15
Posts
4
Votes
Willie Murray, III
  • Real Estate Investor
  • Memphis, TN
4
Votes |
15
Posts

FMR Metropolitan Area Summary VS FMR Local Area Summary

Willie Murray, III
  • Real Estate Investor
  • Memphis, TN
Posted

Ok, here's the deal. I'm thinking about purchasing a 6 unit apartment and renting it out to section 8 recipients. I was reviewing the "fair market rent" information and I noticed that it had a "FMR Metropolitan Area Summary" and a "FMR Local Area Summary". They differed by a few hundred dollars PER month. Which one to do I go by? Is it saying that if the property is in a Metropolitan area (the city) then you go by the metropolitan rates and if it's outside of that (the suburbs) then use the local area rate? Thanks in advance for you help.