HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Buchanan County, Virginia (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Buchanan County is $943 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$943
+3.2% from FY 2026
Payment standard
$849–$1,037
90% to 110% of the FMR, two-bedroom
Income to afford
$37,720
a year, with rent at 30% of income
Rank in Virginia
111th of 133
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 | $799 | $719–$879 | $31,960 | $15.37/hr | +0.9% |
| 1 bedroom | $866 | $779–$953 | $34,640 | $16.65/hr | +3.8% |
| 2 bedroom | $943 | $849–$1,037 | $37,720 | $18.13/hr | +3.2% |
| 3 bedroom | $1,306 | $1,175–$1,437 | $52,240 | $25.12/hr | +2.8% |
| 4 bedroom | $1,506 | $1,355–$1,657 | $60,240 | $28.96/hr | +0.8% |
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 | $1,732 | $1,559–$1,905 |
| 6 bedroom Estimate | $1,958 | $1,762–$2,154 |
| 7 bedroom Estimate | $2,184 | $1,966–$2,402 |
| 8 bedroom Estimate | $2,410 | $2,169–$2,651 |
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 Buchanan actually rent for?
Search any address in Buchanan 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 Buchanan somewhere between $849 and $1,037. 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.
$943 a month is affordable, by HUD's 30% rule, on an income of roughly $37,720 a year. Put another way, $18 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%$849 | Voucher pays at 100%$943 | Voucher pays at 110%$1,037 |
|---|---|---|---|---|
| $2,500 | $750 | $99 | $193 | $287 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 3% from FY 2026 ($914) to FY 2027 ($943). Since FY 2020 it's up 32% in total, about 4.1% a year. The Virginia median moved up 1% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $482 | $627 | $714 | $897 | $967 | — |
| FY 2021 | $601 | $615 | $701 | $880 | $951 | -1.8% |
| FY 2022 | $605 | $616 | $702 | $906 | $952 | +0.1% |
| FY 2023 | $687 | $702 | $793 | $997 | $1,065 | +13.0% |
| FY 2024 | $725 | $730 | $905 | $1,176 | $1,324 | +14.1% |
| FY 2025 | $670 | $674 | $851 | $1,130 | $1,429 | -6.0% |
| FY 2026 | $792 | $834 | $914 | $1,271 | $1,494 | +7.4% |
| FY 2027In effect | $799 | $866 | $943 | $1,306 | $1,506 | +3.2% |
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 Buchanan, that runs from $799 for a studio up to $1,506 for four bedrooms, all five rates in the table above.
Because Buchanan sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Davenport included.
Among Virginia's 133 counties, Buchanan ranks 111th for two-bedroom FMR. That's about 25% below the state median of $1,262 and about 11% below the national median county at $1,063. About 19,415 people live here, 81st in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $940 in 24603 (Big Rock) and $1,400 in 24657 (Whitewood), with the 11 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 |
|---|---|---|---|
| 24239 | Davenport | $1,020 | +8.2% |
| 24603 | Big Rock | $940 | -0.3% |
| 24614 | Grundy | $1,030 | +9.2% |
| 24620 | Hurley | $940 | -0.3% |
| 24624 | Keen Mountain | $943County rate | — |
| 24627 | Mavisdale | $943County rate | — |
| 24628 | Maxie | $943County rate | — |
| 24631 | Oakwood | $940 | -0.3% |
| 24634 | Pilgrims Knob | $1,110 | +17.7% |
| 24639 | Raven | $940 | -0.3% |
| 24646 | Rowe | $970 | +2.9% |
| 24647 | Shortt Gap | $943County rate | — |
| 24656 | Vansant | $1,030 | +9.2% |
| 24657 | Whitewood | $1,400 | +48.5% |
| 24658 | Wolford | $940 | -0.3% |
Nearby counties
Two-bedroom FMR, with how each compares to Buchanan.
Dickenson County
17 mi · 13,733 people
$943
same rate
Russell County
19 mi · 25,538 people
$943
same rate
Tazewell County
25 mi · 39,624 people
$943
same rate
Washington County
36 mi · 53,926 people
$1,091
+16%
Smyth County
37 mi · 29,420 people
$943
same rate
Wise County
39 mi · 35,448 people
$943
same rate
Norton city
39 mi · 3,577 people
$943
same rate
Bristol city
44 mi · 16,849 people
$1,091
+16%
Questions people ask
$943 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $799 for a studio, $866 for one bedroom, $1,306 for three and $1,506 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 Buchanan actually go for?
HUD's number is one input. Search any address in Buchanan for a rent estimate built from nearby comps. Free to start, no card.
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