Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Elk Creek, VA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Elk Creek, VA is $950 a month. That is up 3.3% from $920 in FY 2026. Elk Creek is in the Grayson 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 $943. The median county two-bedroom FMR in Virginia is $1,262, so Elk Creek is 25% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Elk Creek, VA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$780
$800
+2.6%
$720–$880
1BR
$830
$860
+3.6%
$774–$946
2BR
$920
$950
+3.3%
$855–$1,045
3BR
$1,250
$1,280
+2.4%
$1,152–$1,408
4BR
$1,290
$1,320
+2.3%
$1,188–$1,452
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Elk Creek, VA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$800
$860
$950
$1,280
$1,320
FY 2026
$780
$830
$920
$1,250
$1,290
FY 2025
$730
$770
$860
$1,160
$1,240
FY 2024area FMR
$725
$730
$905
$1,273
$1,372
FY 2023area FMR
$588
$636
$793
$1,116
$1,191
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Elk Creek, VA rents
How much will Section 8 pay for a two-bedroom in Elk Creek, VA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $943, which applies unless the housing authority uses Small Area FMRs, that basic range is $849 to $1,037 a month; under the ZIP-level Small Area FMR of $950 it would be $855 to $1,045. 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 Elk Creek, VA in?
Elk Creek, VA is in the Grayson County, VA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $943.
How much did fair market rent change in Elk Creek, VA for FY 2027?
The two-bedroom FMR rose 3.3%, from $920 in FY 2026 to $950 in FY 2027. Since FY 2025 it has risen 10.5%.
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