For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23604 (Fort Eustis, VA) is $2,100 a month. That is down 4.5% from $2,200 in FY 2026. Fort Eustis 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 12 ZIP codes in Newport News City, 23604 has the highest two-bedroom rent (county range $1,140–$2,100). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23604 is 66% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23604
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,920
$1,850
−3.6%
$1,665–$2,035
1BR
$1,940
$1,870
−3.6%
$1,683–$2,057
2BR
$2,200
$2,100
−4.5%
$1,890–$2,310
3BR
$3,050
$2,890
−5.2%
$2,601–$3,179
4BR
$3,590
$3,410
−5.0%
$3,069–$3,751
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23604
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,850
$1,870
$2,100
$2,890
$3,410
FY 2026
$1,920
$1,940
$2,200
$3,050
$3,590
FY 2025
$1,920
$1,930
$2,210
$3,080
$3,660
FY 2024
$1,690
$1,700
$1,970
$2,740
$3,340
FY 2023
$1,500
$1,530
$1,790
$2,500
$3,050
Two-bedroom rent in nearby Newport News City ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 23604?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,100, that basic range is $1,890 to $2,310 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 23604 in?
ZIP 23604 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 23604 for FY 2027?
The two-bedroom FMR fell 4.5%, from $2,200 in FY 2026 to $2,100 in FY 2027. Since FY 2023 it has risen 17.3%.
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