FMR is near market; voucher and private rents are aligned.
0.97
1 BR
1 BR
1.07ratio
FMR$1,710
Market$1,600
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR
0.96ratio
FMR$1,920
Market$2,010
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.96
3 BR
3 BR
1.17ratio
FMR$2,650
Market$2,270
vs market+$380
FMR is above market; underwrite to market rent.
1.17
4 BR
4 BR
1.09ratio
FMR$3,120
Market$2,860
vs market+$260
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 23662 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23662 (Poquoson, VA) is $1,920 a month. That is down 3.5% from $1,990 in FY 2026. Poquoson 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 2 ZIP codes in Poquoson City, 23662 has the 2nd-highest two-bedroom rent (county range $1,920–$1,980). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23662 is 52% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23662
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,730
$1,690
−2.3%
$1,521–$1,859
1BR
$1,760
$1,710
−2.8%
$1,539–$1,881
2BR
$1,990
$1,920
−3.5%
$1,728–$2,112
3BR
$2,760
$2,650
−4.0%
$2,385–$2,915
4BR
$3,250
$3,120
−4.0%
$2,808–$3,432
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23662
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,690
$1,710
$1,920
$2,650
$3,120
FY 2026
$1,730
$1,760
$1,990
$2,760
$3,250
FY 2025
$1,700
$1,710
$1,960
$2,730
$3,250
FY 2024
$1,410
$1,420
$1,650
$2,300
$2,800
FY 2023
$1,180
$1,200
$1,400
$1,960
$2,380
Two-bedroom rent in nearby Poquoson City ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 23662?
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 23662 in?
ZIP 23662 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 23662 for FY 2027?
The two-bedroom FMR fell 3.5%, from $1,990 in FY 2026 to $1,920 in FY 2027. Since FY 2023 it has risen 37.1%.
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