For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24033 (Roanoke, VA) is $1,390 a month. That is up 15.8% from $1,200 in FY 2026. Roanoke is in the Roanoke, VA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,464. Among 37 ZIP codes in Roanoke City, 24033 is tied for the 7th-highest two-bedroom rent (county range $1,220–$1,730). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24033 is 10% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 24033
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$960
$1,130
+17.7%
$1,017–$1,243
1BR
$1,010
$1,190
+17.8%
$1,071–$1,309
2BR
$1,200
$1,390
+15.8%
$1,251–$1,529
3BR
$1,670
$1,920
+15.0%
$1,728–$2,112
4BR
$2,010
$2,320
+15.4%
$2,088–$2,552
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 24033
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,130
$1,190
$1,390
$1,920
$2,320
FY 2026
$960
$1,010
$1,200
$1,670
$2,010
FY 2025
$850
$910
$1,090
$1,530
$1,800
FY 2024
$780
$850
$1,040
$1,450
$1,680
FY 2023
$690
$760
$940
$1,290
$1,460
Questions about ZIP 24033 rents
How much will Section 8 pay for a two-bedroom in ZIP 24033?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,464, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,318 to $1,610 a month; under the ZIP-level Small Area FMR of $1,390 it would be $1,251 to $1,529. 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 24033 in?
ZIP 24033 is in the Roanoke, VA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,464.
How much did fair market rent change in ZIP 24033 for FY 2027?
The two-bedroom FMR rose 15.8%, from $1,200 in FY 2026 to $1,390 in FY 2027. Since FY 2023 it has risen 47.9%.
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