Enter the rent of comparable unit 1 ($), the rent of comparable unit 2 ($), and the rent of comparable unit 3 ($) into the calculator to determine the Fair Market Value Rent.

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## Fair Market Value Rent Formula

The following formula is used to calculate the Fair Market Value Rent.

**FMR = (R1 + R2 + R3) / 3**

- Where FMR is the Fair Market Value Rent ($)
- R1 is the rent of comparable unit 1 ($)
- R2 is the rent of comparable unit 2 ($)
- R3 is the rent of comparable unit 3 ($)

## How to Calculate Fair Market Value Rent?

The following example problems outline how to calculate Fair Market Value Rent.

**Example Problem #1**

- First, determine the rent of comparable unit 1 ($). In this example, the rent of comparable unit 1 ($) is given as 5000 .
- Next, determine the rent of comparable unit 2 ($). For this problem, the rent of comparable unit 2 ($) is given as 4000 .
- Next, determine the rent of comparable unit 3 ($). In this case, the rent of comparable unit 3 ($) is found to be 3000.
- Finally, calculate the Fair Market Value Rent using the formula above:

FMR = (R1 + R2 + R3) / 3

Inserting the values from above yields:

FMR = (5000 +4000 + 3000) / 3 = 3000.00 ($)

**Example Problem #2**

The variables needed for this problem are provided below:

rent of comparable unit 1 ($) = 2000

rent of comparable unit 2 ($) = 2750

rent of comparable unit 3 ($) = 2200

Entering these values and solving gives:

FMR = (2000 + 2750 + 2200) / 3 = 2316.66** **($)