FMR is below market; voucher rent may lag private rents.
0.84
1 BR
1 BR
0.97ratio
FMR$1,700
Market$1,760
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.97
2 BR
2 BR
0.95ratio
FMR$1,900
Market$2,000
vs market-$100
FMR is near market; voucher and private rents are aligned.
0.95
3 BR
3 BR
1.07ratio
FMR$2,620
Market$2,450
vs market+$170
FMR is near market; voucher and private rents are aligned.
1.07
4 BR
4 BR
1.04ratio
FMR$3,090
Market$2,980
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.04
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
--
ZIP 23471 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23471 (Virginia Beach, VA) is $1,900 a month. That is down 3.1% from $1,960 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, 23471 is tied for the 13th-highest two-bedroom rent (county range $1,550–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23471 is 51% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23471
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,710
$1,680
−1.8%
$1,512–$1,848
1BR
$1,730
$1,700
−1.7%
$1,530–$1,870
2BR
$1,960
$1,900
−3.1%
$1,710–$2,090
3BR
$2,720
$2,620
−3.7%
$2,358–$2,882
4BR
$3,200
$3,090
−3.4%
$2,781–$3,399
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23471
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,680
$1,700
$1,900
$2,620
$3,090
FY 2026
$1,710
$1,730
$1,960
$2,720
$3,200
FY 2025
$1,690
$1,700
$1,940
$2,700
$3,210
FY 2024
$1,460
$1,460
$1,700
$2,370
$2,880
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 23471?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,900, that basic range is $1,710 to $2,090 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 23471 in?
ZIP 23471 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 23471 for FY 2027?
The two-bedroom FMR fell 3.1%, from $1,960 in FY 2026 to $1,900 in FY 2027. Since FY 2023 it has risen 25.0%.
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