Enter the rent of comparable unit 1 ($), the rent of comparable unit 2 ($), and the rent of comparable unit 3 ($) into the calculator to determine the Fair Market Value Rent. ## Fair Market Value Rent Formula The following formula is used to calculate the Fair Market Value Rent. FMR = (R1 + R2 + R3) / 3 • Where FMR is the Fair Market Value Rent ($)
• R1 is the rent of comparable unit 1 ($) • R2 is the rent of comparable unit 2 ($)
• R3 is the rent of comparable unit 3 ($) ## How to Calculate Fair Market Value Rent? The following example problems outline how to calculate Fair Market Value Rent. Example Problem #1 1. First, determine the rent of comparable unit 1 ($). In this example, the rent of comparable unit 1 ($) is given as 5000 . 2. Next, determine the rent of comparable unit 2 ($). For this problem, the rent of comparable unit 2 ($) is given as 4000 . 3. Next, determine the rent of comparable unit 3 ($). In this case, the rent of comparable unit 3 ($) is found to be 3000. 4. Finally, calculate the Fair Market Value Rent using the formula above: FMR = (R1 + R2 + R3) / 3 Inserting the values from above yields: FMR = (5000 +4000 + 3000) / 3 = 3000.00 ($)

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 ($) = 2200 Entering these values and solving gives: FMR = (2000 + 2750 + 2200) / 3 = 2316.66 ($)