FMR is below market; voucher rent may lag private rents.
0.84
1 BR
1 BR
0.82ratio
FMR$1,640
Market$2,010
vs market-$370
FMR is below market; voucher rent may lag private rents.
0.82
2 BR
2 BR
0.80ratio
FMR$1,840
Market$2,310
vs market-$470
FMR is below market; voucher rent may lag private rents.
0.80
3 BR
3 BR
0.89ratio
FMR$2,540
Market$2,870
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR
0.87ratio
FMR$3,000
Market$3,460
vs market-$460
FMR is below market; voucher rent may lag private rents.
0.87
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
--
Mortgage rate
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ZIP 23459 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23459 (Virginia Beach, VA) is $1,840 a month. That is down 3.7% from $1,910 in FY 2026. Virginia Beach 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. Among 22 ZIP codes in Virginia Beach City, 23459 has the 19th-highest two-bedroom rent (county range $1,550–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23459 is 46% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23459
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,670
$1,630
−2.4%
$1,467–$1,793
1BR
$1,690
$1,640
−3.0%
$1,476–$1,804
2BR
$1,910
$1,840
−3.7%
$1,656–$2,024
3BR
$2,650
$2,540
−4.2%
$2,286–$2,794
4BR
$3,120
$3,000
−3.8%
$2,700–$3,300
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23459
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,630
$1,640
$1,840
$2,540
$3,000
FY 2026
$1,670
$1,690
$1,910
$2,650
$3,120
FY 2025
$1,680
$1,690
$1,960
$2,720
$3,320
FY 2024
$1,860
$1,870
$2,170
$3,020
$3,680
FY 2023
$1,630
$1,660
$1,940
$2,710
$3,300
Two-bedroom rent in nearby Virginia Beach City ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 23459?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,840, that basic range is $1,656 to $2,024 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 23459 in?
ZIP 23459 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 ZIP 23459 for FY 2027?
The two-bedroom FMR fell 3.7%, from $1,910 in FY 2026 to $1,840 in FY 2027. Since FY 2023 it has fallen 5.2%.
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