HUD's new Fair Market Rent for a two-bedroom home in the Lubbock area is $1,241 a month, effective Oct. 1. That figure includes basic utilities, and it is $66, or 5.6%, higher than last year's $1,175.
WHAT IT IS
Fair Market Rent, or FMR, is a figure the U.S. Department of Housing and Urban Development publishes each year for every housing area and bedroom size. HUD describes it as its best estimate of the 40th percentile of gross rent paid by recent movers into standard-quality units. In plain terms, about 40% of those units cost less than the figure. Gross rent means rent plus utilities, except telephone.
HUD published the notice in the Federal Register Sept. 1. The rents are effective Oct. 1, 2026, unless HUD receives a valid request to reevaluate a specific area.
THE NUMBERS
HUD's fiscal year 2027 figures for the Lubbock, TX HUD Metro FMR Area, per month, with the change from fiscal year 2026:
| Studio | $893, up $75 (9.2%) |
|---|---|
| 1 bedroom | $1,050, up $60 (6.1%) |
| 2 bedroom | $1,241, up $66 (5.6%) |
| 3 bedroom | $1,718, up $84 (5.1%) |
| 4 bedroom | $2,053, up $113 (5.8%) |
For two-bedroom units, the figure was $1,192 in fiscal year 2025, $1,175 in 2026 and is $1,241 in 2027. That is $49, or 4.1%, more than two years ago.
WHAT IT IS NOT
It is not an average rent, and it is not what every apartment costs. It is not a cap on what private landlords can charge; it is a figure used in housing programs. And because it includes utilities, it is not the same as the rent on a lease.
WHO USES IT
In the Housing Choice Voucher program, HUD says the FMR is the basis for the payment standard used to calculate a family's maximum monthly subsidy. HUD also uses it for limits in some other programs, including public housing flat rents. Under federal rules, a housing authority can set a payment standard anywhere from 90% to 110% of the FMR without HUD approval. The Housing Authority of the City of Lubbock lists public housing, vouchers and project-based vouchers among its programs.
QUESTIONS NEIGHBORS ASK
Does $1,241 mean a two-bedroom costs that much in Lubbock? No. It is HUD's benchmark for housing programs, not a tally of what Lubbock apartments are listed for.
When does my voucher change? Housing authorities set their own payment standards, so neighbors with vouchers should ask theirs when the new figure applies.
SOURCES
- HUD USER, FY 2027 Fair Market Rents, effective Oct. 1, 2026
- HUD USER, FY 2026 Fair Market Rent documentation, Lubbock area
- Federal Register, FY 2027 Fair Market Rents notice, Sept. 1, 2026
- 24 CFR 888.113, Fair market rents methodology
- 24 CFR 982.503, Payment standards
- Housing Authority of the City of Lubbock, housing programs
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