FMR is near market; voucher and private rents are aligned.
0.98
1 BR
1 BR
1.09ratio
FMR$1,710
Market$1,570
vs market+$140
FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR
0.99ratio
FMR$1,920
Market$1,930
vs market-$10
FMR is near market; voucher and private rents are aligned.
0.99
3 BR
3 BR
1.09ratio
FMR$2,640
Market$2,430
vs market+$210
FMR is near market; voucher and private rents are aligned.
1.09
4 BR
4 BR
1.07ratio
FMR$3,110
Market$2,910
vs market+$200
FMR is near market; voucher and private rents are aligned.
1.07
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 23460 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23460 (Virginia Beach, VA) is $1,920 a month. That is down 2.5% from $1,970 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, 23460 has the 11th-highest two-bedroom rent (county range $1,550–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23460 is 52% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23460
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,720
$1,690
−1.7%
$1,521–$1,859
1BR
$1,740
$1,710
−1.7%
$1,539–$1,881
2BR
$1,970
$1,920
−2.5%
$1,728–$2,112
3BR
$2,730
$2,640
−3.3%
$2,376–$2,904
4BR
$3,230
$3,110
−3.7%
$2,799–$3,421
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23460
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,690
$1,710
$1,920
$2,640
$3,110
FY 2026
$1,720
$1,740
$1,970
$2,730
$3,230
FY 2025
$1,660
$1,670
$1,910
$2,650
$3,160
FY 2024
$1,400
$1,410
$1,640
$2,280
$2,780
FY 2023
$1,280
$1,300
$1,520
$2,120
$2,590
Two-bedroom rent in nearby Virginia Beach City ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 23460?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,920, that basic range is $1,728 to $2,112 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 23460 in?
ZIP 23460 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 23460 for FY 2027?
The two-bedroom FMR fell 2.5%, from $1,970 in FY 2026 to $1,920 in FY 2027. Since FY 2023 it has risen 26.3%.
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