Fair Market Rent Trends
Fair Market Rents (FMRs) are established by the Department of Housing and Urban Development (HUD) and are gross rent estimates. FMRs are primarily used to determine initial renewal rents for some expiring project-based Section 8 contracts, to determine initial rents for housing assistance payment contracts, and to serve as a rent ceiling in the HOME rental assistance program. More detailed information can be found here.
On a broad level, FMRs provide general trends in the costs of rent over time and allow for rent trend comparisons between communities.
Fair Market Rents for All Bedroom Sizes - Corvallis | Benton County Only
| Year | Efficiency | One-Bedroom | Two-Bedroom | Three-Bedroom | Four-Bedroom |
| 2024 | $1,192 | $1,236 | $1,570 | $2,212 | $2,495 |
| 2023 | $1,107 | $1,158 | $1,430 | $2,032 | $2,410 |
| 2022 | $1,000 | $1,065 | $1,272 | $1,807 | $2,177 |
| 2021 | $932 | $1,031 | $1,217 | $1,742 | $2,107 |
| 2020 | $869 | $991 | $1,177 | $1,698 | $2,066 |
| 2019 | $767 | $886 | $1066 | $1541 | $1872 |
| 2018 | $680 | $801 | $976 | $1420 | $1719 |
| 2017 | $619 | $750 | $930 | $1354 | $1639 |
| 2016 | $530 | $661 | $838 | $1221 | $1463 |
| 2015 | $490 | $628 | $823 | $1213 | $1458 |
| 2014 | $490 | $629 | $824 | $1214 | $1459 |
