FMR is below market; voucher rent may lag private rents.
0.59
1 BR
1 BR- 23336
0.67ratio
FMR$990
Market$1,470
vs market-$480
FMR is below market; voucher rent may lag private rents.
0.67
2 BR
2 BR- 23336
0.73ratio
FMR$1,250
Market$1,720
vs market-$470
FMR is below market; voucher rent may lag private rents.
0.73
3 BR
3 BR- 23336
0.85ratio
FMR$1,540
Market$1,810
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.85
4 BR
4 BR- 23336
0.96ratio
FMR$1,720
Market$1,790
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.96
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Chincoteague Island, VA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Chincoteague Island, VA is $1,250 a month. That is up 1.6% from $1,230 in FY 2026. Chincoteague Island is in the Accomack County, VA non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,110.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Chincoteague Island, VA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$860
$880
+2.3%
$792–$968
1BR
$1,000
$990
−1.0%
$891–$1,089
2BR
$1,230
$1,250
+1.6%
$1,125–$1,375
3BR
$1,600
$1,540
−3.7%
$1,386–$1,694
4BR
$1,810
$1,720
−5.0%
$1,548–$1,892
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Chincoteague Island, VA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$880
$990
$1,250
$1,540
$1,720
FY 2026
$860
$1,000
$1,230
$1,600
$1,810
FY 2025
$790
$930
$1,130
$1,510
$1,830
FY 2024area FMR
$766
$832
$938
$1,294
$1,592
FY 2023area FMR
$588
$702
$793
$1,123
$1,351
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Chincoteague Island, VA rents
How much will Section 8 pay for a two-bedroom in Chincoteague Island, VA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,110, which applies unless the housing authority uses Small Area FMRs, that basic range is $999 to $1,221 a month; under the ZIP-level Small Area FMR of $1,250 it would be $1,125 to $1,375. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Chincoteague Island, VA in?
Chincoteague Island, VA is in the Accomack County, VA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,110.
How much did fair market rent change in Chincoteague Island, VA for FY 2027?
The two-bedroom FMR rose 1.6%, from $1,230 in FY 2026 to $1,250 in FY 2027. Since FY 2025 it has risen 10.6%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set