FMR is below market; voucher rent may lag private rents.
0.59
1 BR
1 BR
0.71ratio
FMR$870
Market$1,230
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.71
2 BR
2 BR
0.79ratio
FMR$1,120
Market$1,410
vs market-$290
FMR is below market; voucher rent may lag private rents.
0.79
3 BR
3 BR
0.87ratio
FMR$1,410
Market$1,620
vs market-$210
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR
0.86ratio
FMR$1,500
Market$1,740
vs market-$240
FMR is below market; voucher rent may lag private rents.
0.86
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
--
Mortgage rate
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ZIP 24209 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24209 (Bristol, VA) is $1,120 a month. That is up 2.8% from $1,090 in FY 2026. Bristol is in the Kingsport-Bristol, TN-VA MSA. 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 $1,091. Among 4 ZIP codes in Bristol City, 24209 is tied for the highest two-bedroom rent (county range $1,080–$1,120). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24209 is 11% below it.
How much will Section 8 pay for a two-bedroom in ZIP 24209?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,091, which applies unless the housing authority uses Small Area FMRs, that basic range is $982 to $1,200 a month; under the ZIP-level Small Area FMR of $1,120 it would be $1,008 to $1,232. 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 24209 in?
ZIP 24209 is in the Kingsport-Bristol, TN-VA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,091.
How much did fair market rent change in ZIP 24209 for FY 2027?
The two-bedroom FMR rose 2.8%, from $1,090 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 30.2%.
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