FMR is near market; voucher and private rents are aligned.
1.02
3 BR
3 BR
1.07ratio
FMR$2,140
Market$2,000
vs market+$140
FMR is near market; voucher and private rents are aligned.
1.07
4 BR
4 BR
1.09ratio
FMR$2,520
Market$2,310
vs market+$210
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 23668 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23668 (Hampton, VA) is $1,550 a month. That is down 1.9% from $1,580 in FY 2026. Hampton 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 14 ZIP codes in Hampton City, 23668 is tied for the 7th-highest two-bedroom rent (county range $1,380–$2,230). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23668 is 23% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 23668
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,380
$1,370
−0.7%
$1,233–$1,507
1BR
$1,390
$1,380
−0.7%
$1,242–$1,518
2BR
$1,580
$1,550
−1.9%
$1,395–$1,705
3BR
$2,190
$2,140
−2.3%
$1,926–$2,354
4BR
$2,580
$2,520
−2.3%
$2,268–$2,772
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 23668
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,370
$1,380
$1,550
$2,140
$2,520
FY 2026
$1,380
$1,390
$1,580
$2,190
$2,580
FY 2025
$1,320
$1,330
$1,520
$2,120
$2,520
FY 2024
$1,200
$1,210
$1,400
$1,950
$2,370
FY 2023area FMR
$1,116
$1,137
$1,329
$1,857
$2,264
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
How much will Section 8 pay for a two-bedroom in ZIP 23668?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,550, that basic range is $1,395 to $1,705 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 23668 in?
ZIP 23668 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 23668 for FY 2027?
The two-bedroom FMR fell 1.9%, from $1,580 in FY 2026 to $1,550 in FY 2027. Since FY 2024 it has risen 10.7%.
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