FMR is near market; voucher and private rents are aligned.
1.02
1 BR
1 BR
0.88ratio
FMR$1,060
Market$1,200
vs market-$140
FMR is below market; voucher rent may lag private rents.
0.88
2 BR
2 BR
0.85ratio
FMR$1,220
Market$1,430
vs market-$210
FMR is below market; voucher rent may lag private rents.
0.85
3 BR
3 BR
0.97ratio
FMR$1,660
Market$1,720
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.97
4 BR
4 BR
0.87ratio
FMR$1,830
Market$2,100
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.87
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 24401 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24401 (Staunton, VA) is $1,220 a month. That is down 5.4% from $1,290 in FY 2026. Staunton is in the Staunton-Stuarts Draft, 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 $1,199. Among 30 ZIP codes in Augusta County, 24401 is tied for the 16th-highest two-bedroom rent (county range $1,140–$1,800). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24401 is 3% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 24401
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,110
$1,060
−4.5%
$954–$1,166
1BR
$1,120
$1,060
−5.4%
$954–$1,166
2BR
$1,290
$1,220
−5.4%
$1,098–$1,342
3BR
$1,770
$1,660
−6.2%
$1,494–$1,826
4BR
$1,990
$1,830
−8.0%
$1,647–$2,013
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 24401
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,060
$1,060
$1,220
$1,660
$1,830
FY 2026
$1,110
$1,120
$1,290
$1,770
$1,990
FY 2025
$1,120
$1,130
$1,300
$1,820
$2,120
FY 2024
$980
$990
$1,150
$1,620
$1,920
FY 2023
$830
$840
$1,000
$1,390
$1,700
Two-bedroom rent in nearby Augusta County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 24401?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,199, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,079 to $1,319 a month; under the ZIP-level Small Area FMR of $1,220 it would be $1,098 to $1,342. 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 24401 in?
ZIP 24401 is in the Staunton-Stuarts Draft, VA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,199.
How much did fair market rent change in ZIP 24401 for FY 2027?
The two-bedroom FMR fell 5.4%, from $1,290 in FY 2026 to $1,220 in FY 2027. Since FY 2023 it has risen 22.0%.
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