HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Caroline County, Virginia (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Caroline County is $1,244 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$1,244
-0.2% from FY 2026
Payment standard
$1,120–$1,368
90% to 110% of the FMR, two-bedroom
Income to afford
$49,760
a year, with rent at 30% of income
Rank in Virginia
70th 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 | $866 | $779–$953 | $34,640 | $16.65/hr | +0.8% |
| 1 bedroom | $1,028 | $925–$1,131 | $41,120 | $19.77/hr | +0.7% |
| 2 bedroom | $1,244 | $1,120–$1,368 | $49,760 | $23.92/hr | -0.2% |
| 3 bedroom | $1,723 | $1,551–$1,895 | $68,920 | $33.13/hr | -0.6% |
| 4 bedroom | $2,079 | $1,871–$2,287 | $83,160 | $39.98/hr | -0.5% |
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 | $2,391 | $2,152–$2,630 |
| 6 bedroom Estimate | $2,703 | $2,433–$2,973 |
| 7 bedroom Estimate | $3,015 | $2,714–$3,317 |
| 8 bedroom Estimate | $3,326 | $2,993–$3,659 |
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 Caroline actually rent for?
Search any address in Caroline 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 Caroline somewhere between $1,120 and $1,368. 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.
$1,244 a month is affordable, by HUD's 30% rule, on an income of roughly $49,760 a year. Put another way, $24 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%$1,120 | Voucher pays at 100%$1,244 | Voucher pays at 110%$1,368 |
|---|---|---|---|---|
| $2,500 | $750 | $370 | $494 | $618 |
| $4,000 | $1,200 | $0 | $44 | $168 |
Rate history
The two-bedroom rate went down 0% from FY 2026 ($1,246) to FY 2027 ($1,244). Since FY 2020 it's up 17% in total, about 2.3% 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 | $899 | $932 | $1,061 | $1,410 | $1,686 | — |
| FY 2021 | $993 | $1,020 | $1,163 | $1,538 | $1,840 | +9.6% |
| FY 2022 | $894 | $918 | $1,047 | $1,385 | $1,656 | -10.0% |
| FY 2023 | $805 | $847 | $1,056 | $1,501 | $1,664 | +0.9% |
| FY 2024 | $946 | $952 | $1,181 | $1,664 | $1,946 | +11.8% |
| FY 2025 | $901 | $906 | $1,119 | $1,568 | $1,859 | -5.2% |
| FY 2026 | $859 | $1,021 | $1,246 | $1,733 | $2,090 | +11.3% |
| FY 2027In effect | $866 | $1,028 | $1,244 | $1,723 | $2,079 | -0.2% |
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 Caroline, that runs from $866 for a studio up to $2,079 for four bedrooms, all five rates in the table above.
Because Caroline 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, Bowling Green included.
Among Virginia's 133 counties, Caroline ranks 70th for two-bedroom FMR. That's within a couple percent of the state median of $1,262 and about 17% above the national median county at $1,063. About 32,098 people live here, 55th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,130 in 22427 (Bowling Green) and $1,570 in 22535 (Port Royal), with the 8 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 |
|---|---|---|---|
| 22427 | Bowling Green | $1,130 | -9.2% |
| 22428 | Bowling Green | $1,244County rate | — |
| 22446 | Corbin | $1,240 | -0.3% |
| 22501 | Ladysmith | $1,240 | -0.3% |
| 22514 | Milford | $1,130 | -9.2% |
| 22535 | Port Royal | $1,570 | +26.2% |
| 22538 | Rappahannock Academy | $1,470 | +18.2% |
| 22546 | Ruther Glen | $1,510 | +21.4% |
| 22552 | Sparta | $1,244County rate | — |
| 22580 | Woodford | $1,310 | +5.3% |
Nearby counties
Two-bedroom FMR, with how each compares to Caroline.
King George County
17 mi · 27,896 people
$1,520
+22%
Spotsylvania County
17 mi · 146,603 people
$2,438
+96%
Fredericksburg city
18 mi · 28,873 people
$2,438
+96%
Hanover County
24 mi · 112,879 people
$1,651
+33%
Essex County
25 mi · 10,623 people
$1,155
-7%
Stafford County
26 mi · 163,466 people
$2,438
+96%
King William County
29 mi · 18,593 people
$1,651
+33%
Westmoreland County
33 mi · 18,826 people
$1,245
same rate
Questions people ask
$1,244 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $866 for a studio, $1,028 for one bedroom, $1,723 for three and $2,079 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 Caroline actually go for?
HUD's number is one input. Search any address in Caroline for a rent estimate built from nearby comps. Free to start, no card.
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