FMR is below market; voucher rent may lag private rents.
0.80
1 BR
1 BR
1.05ratio
FMR$960
Market$910
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.05
2 BR
2 BR
1.05ratio
FMR$1,180
Market$1,120
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.05
3 BR
3 BR
1.03ratio
FMR$1,570
Market$1,520
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.03
4 BR
4 BR
1.03ratio
FMR$1,920
Market$1,870
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.03
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 24141 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24141 (Radford, VA) is $1,180 a month. That is up 6.3% from $1,110 in FY 2026. Radford 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, 24141 has the 12th-highest two-bedroom rent (county range $1,150–$1,470). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24141 is 6% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 24141
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$840
$920
+9.5%
$828–$1,012
1BR
$890
$960
+7.9%
$864–$1,056
2BR
$1,110
$1,180
+6.3%
$1,062–$1,298
3BR
$1,490
$1,570
+5.4%
$1,413–$1,727
4BR
$1,870
$1,920
+2.7%
$1,728–$2,112
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 24141
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$920
$960
$1,180
$1,570
$1,920
FY 2026
$840
$890
$1,110
$1,490
$1,870
FY 2025
$900
$900
$1,140
$1,550
$1,930
FY 2024
$820
$840
$1,030
$1,410
$1,750
FY 2023
$690
$730
$860
$1,200
$1,460
Two-bedroom rent in nearby Montgomery County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 24141?
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 $1,180 it would be $1,062 to $1,298. 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 24141 in?
ZIP 24141 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 24141 for FY 2027?
The two-bedroom FMR rose 6.3%, from $1,110 in FY 2026 to $1,180 in FY 2027. Since FY 2023 it has risen 37.2%.
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