FMR is below market; voucher rent may lag private rents.
0.85
1 BR
1 BR
1.03ratio
FMR$1,790
Market$1,740
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.03
2 BR
2 BR
0.93ratio
FMR$2,010
Market$2,160
vs market-$150
FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR
1.12ratio
FMR$2,770
Market$2,470
vs market+$300
FMR is above market; underwrite to market rent.
1.12
4 BR
4 BR
1.09ratio
FMR$3,260
Market$2,980
vs market+$280
FMR is near market; voucher and private rents are aligned.
1.09
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 23461 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23461 (Virginia Beach, VA) is $2,010 a month. That is down 3.8% from $2,090 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, 23461 is tied for the 5th-highest two-bedroom rent (county range $1,550–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23461 is 59% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23461
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,820
$1,770
−2.7%
$1,593–$1,947
1BR
$1,840
$1,790
−2.7%
$1,611–$1,969
2BR
$2,090
$2,010
−3.8%
$1,809–$2,211
3BR
$2,890
$2,770
−4.2%
$2,493–$3,047
4BR
$3,410
$3,260
−4.4%
$2,934–$3,586
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23461
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,770
$1,790
$2,010
$2,770
$3,260
FY 2026
$1,820
$1,840
$2,090
$2,890
$3,410
FY 2025
$1,780
$1,790
$2,050
$2,850
$3,390
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 23461?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,010, that basic range is $1,809 to $2,211 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 23461 in?
ZIP 23461 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 23461 for FY 2027?
The two-bedroom FMR fell 3.8%, from $2,090 in FY 2026 to $2,010 in FY 2027. Since FY 2023 it has risen 32.2%.
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