HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Franklin County, Vermont (FY 2027)
A two-bedroom in Franklin County carries a FY 2027 Fair Market Rent of $2,165 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Franklin keys off that figure.
Two-bedroom FMR
$2,165
+1.2% from FY 2026
Payment standard
$1,949–$2,382
90% to 110% of the FMR, two-bedroom
Income to afford
$86,600
a year, with rent at 30% of income
Rank in Vermont
2nd of 14
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,550 | $1,395–$1,705 | $62,000 | $29.81/hr | +3.5% |
| 1 bedroom | $1,719 | $1,547–$1,891 | $68,760 | $33.06/hr | +4.1% |
| 2 bedroom | $2,165 | $1,949–$2,382 | $86,600 | $41.63/hr | +1.2% |
| 3 bedroom | $2,733 | $2,460–$3,006 | $109,320 | $52.56/hr | -0.4% |
| 4 bedroom | $2,845 | $2,561–$3,130 | $113,800 | $54.71/hr | +0.4% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $3,272 | $2,945–$3,599 |
| 6 bedroom Estimate | $3,699 | $3,329–$4,069 |
| 7 bedroom Estimate | $4,125 | $3,713–$4,538 |
| 8 bedroom Estimate | $4,552 | $4,097–$5,007 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Franklin actually rent for?
Search any address in Franklin for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Franklin somewhere between $1,949 and $2,382. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$2,165 a month is affordable, by HUD's 30% rule, on an income of roughly $86,600 a year. Put another way, $42 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,949 | Voucher pays at 100%$2,165 | Voucher pays at 110%$2,382 |
|---|---|---|---|---|
| $2,500 | $750 | $1,199 | $1,415 | $1,632 |
| $4,000 | $1,200 | $749 | $965 | $1,182 |
Rate history
The two-bedroom rate went up 1% from FY 2026 ($2,140) to FY 2027 ($2,165). Since FY 2020 it's up 38% in total, about 4.7% a year. The Vermont median moved up 15% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $1,030 | $1,223 | $1,573 | $1,974 | $2,131 | — |
| FY 2021 | $1,091 | $1,265 | $1,628 | $2,025 | $2,208 | +3.5% |
| FY 2022 | $1,033 | $1,163 | $1,500 | $1,854 | $2,034 | -7.9% |
| FY 2023 | $1,139 | $1,238 | $1,615 | $1,982 | $2,170 | +7.7% |
| FY 2024 | $1,341 | $1,441 | $1,887 | $2,390 | $2,513 | +16.8% |
| FY 2025 | $1,380 | $1,476 | $1,936 | $2,491 | $2,567 | +2.6% |
| FY 2026 | $1,497 | $1,651 | $2,140 | $2,745 | $2,833 | +10.5% |
| FY 2027In effect | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 | +1.2% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Franklin, that runs from $1,550 for a studio up to $2,845 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Franklin in with 2 other counties in the Burlington-South Burlington metro, Chittenden County, Grand Isle County among them, and every one of them gets $2,165 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Vermont's 14 counties, Franklin ranks 2nd for two-bedroom FMR. That's about 38% above the state median of $1,570 and about 104% above the national median county at $1,063. About 50,638 people live here, 5th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,930 in 05441 (Bakersfield) and $2,080 in 05483 (Sheldon), with the 17 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 05441 | Bakersfield | $1,930 | -10.9% |
| 05447 | East Berkshire | $1,930 | -10.9% |
| 05448 | East Fairfield | $1,930 | -10.9% |
| 05450 | Enosburg Falls | $1,930 | -10.9% |
| 05454 | Fairfax | $1,930 | -10.9% |
| 05455 | Fairfield | $1,930 | -10.9% |
| 05457 | Franklin | $1,990 | -8.1% |
| 05459 | Highgate Center | $1,940 | -10.4% |
| 05460 | Highgate Springs | $1,930 | -10.9% |
| 05470 | Montgomery | $1,930 | -10.9% |
| 05471 | Montgomery Center | $1,930 | -10.9% |
| 05476 | Richford | $1,930 | -10.9% |
| 05478 | Saint Albans | $1,930 | -10.9% |
| 05479 | Saint Albans | $2,165County rate | — |
| 05481 | Saint Albans Bay | $1,930 | -10.9% |
| 05483 | Sheldon | $2,080 | -3.9% |
| 05485 | Sheldon Springs | $2,080 | -3.9% |
| 05488 | Swanton | $1,930 | -10.9% |
Rates by town
Vermont publishes Fair Market Rents town by town instead of by county. All 15 towns in Franklin County share the same rate for FY 2027, so the county number is the town number wherever you are.
| Town | Population | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|---|
| St. Albans town | 7,057 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| St. Albans city | 6,954 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Swanton town | 6,820 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Fairfax town | 5,226 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Georgia town | 4,890 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Highgate town | 3,528 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Enosburgh town | 2,804 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Richford town | 2,467 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Sheldon town | 2,267 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Fairfield town | 1,938 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Berkshire town | 1,745 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Franklin town | 1,590 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Fletcher town | 1,196 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Bakersfield town | 1,109 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
| Montgomery town | 1,047 | $1,550 | $1,719 | $2,165 | $2,733 | $2,845 |
Counties sharing the Burlington-South Burlington metro rate
HUD sets one rate for the whole metro, so every county here carries the same $2,165 two-bedroom figure as Franklin.
Nearby counties
Two-bedroom FMR, with how each compares to Franklin.
Grand Isle County
18 mi · 7,450 people
$2,165
same rate
Lamoille County
22 mi · 26,148 people
$1,535
-29%
Chittenden County
29 mi · 169,758 people
$2,165
same rate
Orleans County
33 mi · 27,606 people
$1,363
-37%
Washington County
45 mi · 60,017 people
$1,783
-18%
Caledonia County
50 mi · 30,475 people
$1,327
-39%
Addison County
58 mi · 37,664 people
$1,636
-24%
Essex County
59 mi · 5,982 people
$1,167
-46%
Questions people ask
$2,165 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,550 for a studio, $1,719 for one bedroom, $2,733 for three and $2,845 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Franklin actually go for?
HUD's number is one input. Search any address in Franklin for a rent estimate built from nearby comps. Free to start, no card.
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