1. What is the Fresno Housing Authority Rent Affordability Calculator?

The Fresno Housing Authority Rent Affordability Calculator determines the maximum affordable rent based on your monthly income and the Fresno Fair Market Rent (FMR). It follows the standard that housing should cost no more than 30% of income, while also not exceeding the FMR.

2. How Does the Calculator Work?

The calculator uses the Fresno Housing Authority formula:

Where:

• \( Monthly\ Income \) — Gross monthly income before taxes
• \( FMR \) — Fresno Fair Market Rent for the unit size
• \( 0.3 \) — Standard affordability ratio (30% of income)

Explanation: The calculation ensures rent doesn't exceed both 30% of income and the local FMR limit set by HUD.

3. Importance of Rent Affordability Calculation

Details: Proper rent affordability assessment helps prevent housing cost burden, ensures program compliance, and maintains housing stability for low-income families in Fresno.

4. Using the Calculator

Tips: Enter your gross monthly income (before taxes) and the current Fresno FMR for your unit size. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is considered affordable rent?
A: Housing is generally considered affordable when it costs no more than 30% of a household's gross income.

Q2: Where can I find Fresno FMR rates?
A: FMR rates are published annually by HUD and available on the Fresno Housing Authority website.

Q3: Does this calculator account for utilities?
A: No, this calculates base rent only. Some programs may have separate utility allowances.

Q4: What if my calculated affordable rent is below FMR?
A: You may qualify for housing assistance programs to bridge the gap between 30% of your income and the FMR.

Q5: How often should I recalculate?
A: Recalculate whenever your income changes significantly or when FMR rates are updated annually.