FMR is near market; voucher and private rents are aligned.
1.03
2 BR
2 BR
0.94ratio
FMR$1,651
Market$1,760
vs market-$109
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR
0.93ratio
FMR$2,039
Market$2,190
vs market-$151
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR
1.03ratio
FMR$2,499
Market$2,430
vs market+$69
FMR is near market; voucher and private rents are aligned.
1.03
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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ZIP 23249 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 23249 (Richmond, VA) is $1,651 a month. That is down 0.2% from $1,655 in FY 2026. Richmond is in the Richmond, VA HUD Metro FMR Area. The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23249 is 31% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23249
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,442
$1,456
+1.0%
$1,310–$1,602
1BR
$1,507
$1,517
+0.7%
$1,365–$1,669
2BR
$1,655
$1,651
−0.2%
$1,486–$1,816
3BR
$2,072
$2,039
−1.6%
$1,835–$2,243
4BR
$2,553
$2,499
−2.1%
$2,249–$2,749
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23249
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,456
$1,517
$1,651
$2,039
$2,499
FY 2026
$1,442
$1,507
$1,655
$2,072
$2,553
FY 2025
$1,488
$1,545
$1,711
$2,166
$2,677
FY 2024
$1,328
$1,365
$1,532
$1,959
$2,393
FY 2023
$1,157
$1,183
$1,336
$1,727
$2,100
Questions about ZIP 23249 rents
How much will Section 8 pay for a two-bedroom in ZIP 23249?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,651, that basic range is $1,486 to $1,816 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 ZIP 23249 in?
ZIP 23249 is in the Richmond, VA HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 23249 for FY 2027?
The two-bedroom FMR fell 0.2%, from $1,655 in FY 2026 to $1,651 in FY 2027. Since FY 2023 it has risen 23.6%.
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 Fair Market Rents. 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