FMR is below market; voucher rent may lag private rents.
0.76
1 BR
1 BR- 22655
0.89ratio
FMR$1,340
Market$1,500
vs market-$160
FMR is below market; voucher rent may lag private rents.
0.89
2 BR
2 BR- 22655
1.06ratio
FMR$1,710
Market$1,610
vs market+$100
FMR is near market; voucher and private rents are aligned.
1.06
3 BR
3 BR- 22655
0.93ratio
FMR$2,150
Market$2,320
vs market-$170
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR- 22655
1.11ratio
FMR$2,860
Market$2,580
vs market+$280
FMR is above market; underwrite to market rent.
1.11
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
--
Stephens City, VA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Stephens City, VA is $1,710 a month. That is down 2.8% from $1,760 in FY 2026. Stephens City is in the Winchester, VA-WV MSA. 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 metro-wide two-bedroom FMR of $1,505. The median county two-bedroom FMR in Virginia is $1,262, so Stephens City is 35% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Stephens City, VA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,270
$1,210
−4.7%
$1,089–$1,331
1BR
$1,400
$1,340
−4.3%
$1,206–$1,474
2BR
$1,760
$1,710
−2.8%
$1,539–$1,881
3BR
$2,200
$2,150
−2.3%
$1,935–$2,365
4BR
$2,950
$2,860
−3.1%
$2,574–$3,146
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Stephens City, VA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,210
$1,340
$1,710
$2,150
$2,860
FY 2026
$1,270
$1,400
$1,760
$2,200
$2,950
FY 2025
$1,210
$1,390
$1,740
$2,160
$2,920
FY 2024
$1,060
$1,190
$1,500
$1,870
$2,530
FY 2023
$960
$1,050
$1,340
$1,690
$2,220
Questions about Stephens City, VA rents
How much will Section 8 pay for a two-bedroom in Stephens City, VA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,505, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,355 to $1,656 a month; under the ZIP-level Small Area FMR of $1,710 it would be $1,539 to $1,881. 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 Stephens City, VA in?
Stephens City, VA is in the Winchester, VA-WV MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,505.
How much did fair market rent change in Stephens City, VA for FY 2027?
The two-bedroom FMR fell 2.8%, from $1,760 in FY 2026 to $1,710 in FY 2027. Since FY 2023 it has risen 27.6%.
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