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VA/Isle of Wight County/Suffolk

Suffolk, VA

CitySAFMR
Isle of Wight County
Found 8 ZIPs
Zillow

City Median Investment Score

119Above average

095130300
BRFMR
Eff. Rent
0 BR$1,140 – $1,810$1,140 – $1,730
1 BR$1,150 – $1,830$1,150 – $1,690
2 BR$1,290 – $2,050$1,290 – $2,040
3 BR$1,780 – $2,830$1,780 – $2,520
4 BR$2,100 – $3,330$2,100 – $2,990
5 BR$3,329Not available
6 BR$3,829Not available
7 BR$4,403Not available
8 BR$5,063Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
3
0.77-1.05
1 BR
2
0.81-1.22
2 BR
2
0.86-1.05
3 BR
2
0.95-1.24
4 BR
2
2
0.94-1.23
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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Suffolk, VA fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 8 ZIP codes in Suffolk, VA ranges from $1,290 to $2,050 a month, with a median of $1,760. That is down 6.6% from $1,885 in FY 2026. Suffolk is in the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Virginia is $1,262, so Suffolk is 39% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Suffolk, VA
BedroomsFY 2027Change90–110% range
Studio$1,545−5.8%$1,391–$1,700
1BR$1,555−6.0%$1,400–$1,711
2BR$1,760−6.6%$1,584–$1,936
3BR$2,445−6.7%$2,201–$2,690
4BR$2,895−6.8%$2,606–$3,185

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Suffolk, VA
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,545$1,555$1,760$2,445$2,895
FY 2026$1,640$1,655$1,885$2,620$3,105
FY 2025$1,465$1,470$1,680$2,340$2,780
FY 2024$1,270$1,280$1,480$2,070$2,515
FY 2023$1,055$1,075$1,255$1,750$2,135

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
23435$2,050+16.5%
23436$2,020+14.8%
23433$1,980+12.5%
23438$1,800+2.3%
23439$1,720−2.3%
23432$1,660−5.7%
23434$1,540−12.5%
23437$1,290−26.7%

Questions about Suffolk, VA rents

How much will Section 8 pay for a two-bedroom in Suffolk, VA?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,760, that basic range is $1,584 to $1,936 a month. 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 Suffolk, VA in?

Suffolk, VA is in the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in Suffolk, VA for FY 2027?

The two-bedroom FMR fell 6.6%, from $1,885 in FY 2026 to $1,760 in FY 2027. Since FY 2023 it has risen 40.2%.

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

County fair market rentVA statewide rentsWhat is SAFMR?Data sources