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ashleynsad
New Member

How do I find out what the fair market value is for my rental property? Is that what it is worth, or what the average rent is?

 
3 Replies
TomD8
Level 15

How do I find out what the fair market value is for my rental property? Is that what it is worth, or what the average rent is?

To determine the fair market rental (not the fair market sale value) for your location, you can use the HUD tool in this reference:  https://www.huduser.gov/portal/datasets/fmr.html

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Critter
Level 15

How do I find out what the fair market value is for my rental property? Is that what it is worth, or what the average rent is?

fair market value & fair rental values are 2 different things ...

Fair Market value is what it is worth today ... fair rental value is what similar properties are renting for today.
Critter
Level 15

How do I find out what the fair market value is for my rental property? Is that what it is worth, or what the average rent is?

It is the current market value if you were to sell it today. 

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