Virginia · FIPS 51760 · HUD FY 2027
Richmond city, Virginia Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Richmond city is $1,651 a month (rent plus utilities), 8% below the Virginia average of $1,792 and 6% below the U.S. average of $1,761. That is down $4 (0.2%) from FY 2026. At 30% of income, a household needs about $66,040 a year to afford it.
- $1,6512-bedroom FMR−$4 (−0.2%) vs FY 2026
- $1,5171-bedroom FMRVirginia: $1,596 · U.S.: $1,478
- $66,040Income for a 2-bedroom$32/hour full-time
- 29 of 1332BR rank in Virginia1 = highest rent
| Unit | Richmond city FY 2027 | FY 2026 | Change | Virginia avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,456 | $1,442 | +$14 (+1.0%) | $1,536 | $1,379 | $58,240 |
| 1 bedroom | $1,517 | $1,507 | +$10 (+0.7%) | $1,596 | $1,478 | $60,680 |
| 2 bedrooms | $1,651 | $1,655 | −$4 (−0.2%) | $1,792 | $1,761 | $66,040 |
| 3 bedrooms | $2,039 | $2,072 | −$33 (−1.6%) | $2,326 | $2,266 | $81,560 |
| 4 bedrooms | $2,499 | $2,553 | −$54 (−2.1%) | $2,752 | $2,607 | $99,960 |
How Richmond city compares
- HUD sets this rent for the Richmond, VA metro FMR area, which covers 1,334,553 residents in 16 counties.
- Across Virginia, 2-bedroom FMRs run from $943 (Wythe County) to $2,438 (Alexandria city).
- Studio to 4-bedroom: $1,456, $1,517, $1,651, $2,039, $2,499. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 9 ZIP codes mostly in Richmond city (by land area), the 2-bedroom figure ranges from $1,490 to $2,040.
Small Area FMRs by ZIP code in Richmond city
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 23173 | $1,570 | $1,640 | $1,790 | $2,210 | $2,710 | −$10 (−0.6%) | 8% above |
| 23219 | $1,540 | $1,610 | $1,750 | $2,160 | $2,650 | +$40 (+2.3%) | 6% above |
| 23220 | $1,750 | $1,820 | $1,980 | $2,450 | $3,000 | −$30 (−1.5%) | 20% above |
| 23221 | $1,700 | $1,770 | $1,930 | $2,380 | $2,920 | −$60 (−3.0%) | 17% above |
| 23224 | $1,310 | $1,360 | $1,490 | $1,870 | $2,300 | −$50 (−3.2%) | 10% below |
| 23225 | $1,440 | $1,500 | $1,630 | $2,010 | $2,470 | −$20 (−1.2%) | 1% below |
| 23226 | $1,800 | $1,870 | $2,040 | $2,520 | $3,090 | −$70 (−3.3%) | 24% above |
| 23284 | $1,630 | $1,700 | $1,850 | $2,280 | $2,800 | −$160 (−8.0%) | 12% above |
| 23298 | $1,540 | $1,610 | $1,750 | $2,160 | $2,650 | +$40 (+2.3%) | 6% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.