FMR is near market; voucher and private rents are aligned.
0.96
1 BR
1 BR
0.87ratio
FMR$1,070
Market$1,230
vs market-$160
FMR is below market; voucher rent may lag private rents.
0.87
2 BR
2 BR
0.89ratio
FMR$1,360
Market$1,520
vs market-$160
FMR is below market; voucher rent may lag private rents.
0.89
3 BR
3 BR
1.02ratio
FMR$1,810
Market$1,770
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.02
4 BR
4 BR
0.95ratio
FMR$2,080
Market$2,200
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.95
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 24063 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24063 (Blacksburg, VA) is $1,360 a month. That is up 5.4% from $1,290 in FY 2026. Blacksburg is in the Blacksburg-Christiansburg-Radford, 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 $1,340. Among 16 ZIP codes in Montgomery County, 24063 is tied for the 4th-highest two-bedroom rent (county range $1,150–$1,470). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24063 is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 24063
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$920
$1,060
+15.2%
$954–$1,166
1BR
$1,010
$1,070
+5.9%
$963–$1,177
2BR
$1,290
$1,360
+5.4%
$1,224–$1,496
3BR
$1,730
$1,810
+4.6%
$1,629–$1,991
4BR
$2,160
$2,080
−3.7%
$1,872–$2,288
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 24063
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,060
$1,070
$1,360
$1,810
$2,080
FY 2026
$920
$1,010
$1,290
$1,730
$2,160
FY 2025
$940
$980
$1,250
$1,670
$2,100
FY 2024
$1,020
$1,020
$1,290
$1,760
$2,190
FY 2023
$840
$880
$1,070
$1,500
$1,820
Two-bedroom rent in nearby Montgomery County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 24063?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,340, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,206 to $1,474 a month; under the ZIP-level Small Area FMR of $1,360 it would be $1,224 to $1,496. 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 24063 in?
ZIP 24063 is in the Blacksburg-Christiansburg-Radford, VA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,340.
How much did fair market rent change in ZIP 24063 for FY 2027?
The two-bedroom FMR rose 5.4%, from $1,290 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 27.1%.
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