FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR- 22656
1.00ratio
FMR$1,770
Market$1,770
vs market+$0
FMR is near market; voucher and private rents are aligned.
1.00
2 BR
2 BR- 22656
1.28ratio
FMR$2,260
Market$1,760
vs market+$500
FMR is above market; underwrite to market rent.
1.28
3 BR
3 BR- 22656
1.25ratio
FMR$2,850
Market$2,280
vs market+$570
FMR is above market; underwrite to market rent.
1.25
4 BR
4 BR- 22656
1.37ratio
FMR$3,780
Market$2,760
vs market+$1,020
FMR is above market; underwrite to market rent.
1.37
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
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Stephenson, VA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Stephenson, VA is $2,260 a month. That is down 4.2% from $2,360 in FY 2026. Stephenson 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 Stephenson is 79% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Stephenson, VA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,700
$1,600
−5.9%
$1,440–$1,760
1BR
$1,880
$1,770
−5.9%
$1,593–$1,947
2BR
$2,360
$2,260
−4.2%
$2,034–$2,486
3BR
$2,950
$2,850
−3.4%
$2,565–$3,135
4BR
$3,960
$3,780
−4.5%
$3,402–$4,158
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Stephenson, VA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,600
$1,770
$2,260
$2,850
$3,780
FY 2026
$1,700
$1,880
$2,360
$2,950
$3,960
FY 2025
$1,610
$1,850
$2,310
$2,870
$3,880
FY 2024
$1,260
$1,410
$1,780
$2,220
$3,010
FY 2023
$1,020
$1,110
$1,420
$1,790
$2,360
Questions about Stephenson, VA rents
How much will Section 8 pay for a two-bedroom in Stephenson, 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 $2,260 it would be $2,034 to $2,486. 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 Stephenson, VA in?
Stephenson, 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 Stephenson, VA for FY 2027?
The two-bedroom FMR fell 4.2%, from $2,360 in FY 2026 to $2,260 in FY 2027. Since FY 2023 it has risen 59.2%.
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