FMR is near market; voucher and private rents are aligned.
1.09
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
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Mortgage rate
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ZIP 24515 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24515 (Lynchburg, VA) is $1,390 a month. That is down 6.7% from $1,490 in FY 2026. Lynchburg is in the Lynchburg, 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 $1,117. Among 9 ZIP codes in Lynchburg City, 24515 is tied for the highest two-bedroom rent (county range $1,070–$1,390). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24515 is 10% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 24515
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,290
$1,200
−7.0%
$1,080–$1,320
1BR
$1,300
$1,210
−6.9%
$1,089–$1,331
2BR
$1,490
$1,390
−6.7%
$1,251–$1,529
3BR
$2,050
$1,920
−6.3%
$1,728–$2,112
4BR
$2,200
$2,090
−5.0%
$1,881–$2,299
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 24515
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,200
$1,210
$1,390
$1,920
$2,090
FY 2026
$1,290
$1,300
$1,490
$2,050
$2,200
FY 2025
$1,270
$1,290
$1,460
$2,000
$2,170
FY 2024
$990
$1,010
$1,140
$1,560
$1,700
FY 2023area FMR
$805
$819
$930
$1,264
$1,393
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Lynchburg City ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 24515?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,117, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,005 to $1,229 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 24515 in?
ZIP 24515 is in the Lynchburg, VA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,117.
How much did fair market rent change in ZIP 24515 for FY 2027?
The two-bedroom FMR fell 6.7%, from $1,490 in FY 2026 to $1,390 in FY 2027. Since FY 2024 it has risen 21.9%.
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