We are looking at our commercial loans for CRA and have a handful of purchases of dwellings to be used as rentals - I'm trying to establish what is considered "affordable" to qualify for CRA. How far below "fair market rent" would the rent need to be in order to be considered for credit? Any input is appreciated!

I thought currently it was 30 percent of 80 percent of the area median income. But I could be wrong.

I've always been told 80% FMR.

For CRA purposes, "affordable" means the housing is affordable to low- or moderate-income households. This has typically been monthly rent no greater than 30 percent of the area median income. This definition was incorporated into the CRA reform rule.

I use this site as recommended by our last examiner

https://www.huduser.gov/portal/datasets/fmr.html