HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Hopewell city, Virginia (FY 2026)
A two-bedroom in Hopewell city carries a FY 2026 Fair Market Rent of $1,655 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Hopewell keys off that figure.
2 bedroom FMR
$1,655
FY 2026, utilities included
Payment standard range
$1,490 to $1,821
90% to 110% of FMR
Income to afford 2BR
$66,200
per year, at 30% of income
Rank in Virginia
47th of 133
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Hopewell moves to $1,651. That's unchanged. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Hopewell actually rent for?
Search any address in Hopewell for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $1,442 | $1,298 to $1,586 | $57,680 | $27.73/hr | -3.1% |
| 1 bedroom | $1,507 | $1,356 to $1,658 | $60,280 | $28.98/hr | -2.5% |
| 2 bedroom | $1,655 | $1,490 to $1,821 | $66,200 | $31.83/hr | -3.3% |
| 3 bedroom | $2,072 | $1,865 to $2,279 | $82,880 | $39.85/hr | -4.3% |
| 4 bedroom | $2,553 | $2,298 to $2,808 | $102,120 | $49.10/hr | -4.6% |
5 to 8 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 | $2,936 | $2,642 to $3,230 |
| 6 bedroom Estimate | $3,319 | $2,987 to $3,651 |
| 7 bedroom Estimate | $3,702 | $3,332 to $4,072 |
| 8 bedroom Estimate | $4,085 | $3,677 to $4,494 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
HUD sets Fair Market Rent once a year, based on what typical units in the area actually rent for, with utilities folded in. FY 2026 runs October 1, 2025 through September 30, 2026, and in Hopewell city the five published rates run from $1,442 to $2,553, studio through four bedrooms.
Hopewell doesn't get its own number. It sits inside the Richmond metro and shares one rate with 15 other cities, including Chesterfield County, Henrico County, Richmond city. HUD sets metro FMRs from rents across the whole metro, which is why a rural corner of a big metro can carry a city-sized rate.
The state median two-bedroom FMR is $1,254. Hopewell comes in at $1,655, about 32% above that, and ranks 47th of 133 in Virginia. Against the national median county ($1,018) it's about 63% above. Population is around 23,046.
Counties sharing the Richmond metro rate
Chesterfield County
$1,655VA · pop 366,019
Henrico County
$1,655VA · pop 333,120
Richmond city
$1,655VA · pop 227,171
Hanover County
$1,655VA · pop 110,513
Prince George County
$1,655VA · pop 42,634
Petersburg city
$1,655VA · pop 33,261
Powhatan County
$1,655VA · pop 30,503
Dinwiddie County
$1,655VA · pop 28,057
Goochland County
$1,655VA · pop 24,906
New Kent County
$1,655VA · pop 23,296
Colonial Heights city
$1,655VA · pop 18,158
King William County
$1,655VA · pop 17,845
Rates by ZIP code
HUD also publishes Small Area FMRs by ZIP code. For the one ZIP code it covers in Hopewell, the two-bedroom rate is $1,540 across the board, so there's no ZIP-level story here.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 23860 | Hopewell | $1,540 | -6.9% |
What a voucher pays here
The FMR isn't the check you'd receive. Your local housing authority turns it into a payment standard, set between 90% and 110% of FMR, so a two-bedroom here lands between $1,490 and $1,821. Subtract about 30% of the tenant's income and that's the housing assistance payment. If you ask more than similar unassisted units rent for, the PHA's rent reasonableness check will push back.
At the standard 30% of income, a household needs about $66,200 a year to afford $1,655 a month. On a 40-hour week that's $32 an hour.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,490) | HAP at 100% ($1,655) | HAP at 110% ($1,821) |
|---|---|---|---|---|
| $2,500 | $750 | $740 | $905 | $1,071 |
| $4,000 | $1,200 | $290 | $455 | $621 |
Rate history
The two-bedroom rate went down 3% from FY 2025 ($1,711) to FY 2026 ($1,655). Since FY 2020 it's up 56% in total, about 7.7% a year. The Virginia median moved up 5% over the same year.
| 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 | $1,022 | $1,044 | $1,189 | $1,556 | $1,864 | +2.2% |
| FY 2023 | $1,157 | $1,183 | $1,336 | $1,727 | $2,100 | +12.4% |
| FY 2024 | $1,328 | $1,365 | $1,532 | $1,959 | $2,393 | +14.7% |
| FY 2025 | $1,488 | $1,545 | $1,711 | $2,166 | $2,677 | +11.7% |
| FY 2026 | $1,442 | $1,507 | $1,655 | $2,072 | $2,553 | -3.3% |
| FY 2027 | $1,456 | $1,517 | $1,651 | $2,039 | $2,499 | -0.2% |
Nearby counties
Prince George County
$1,6555 mi · pop 42,634
Colonial Heights city
$1,6556 mi · pop 18,158
Petersburg city
$1,6558 mi · pop 33,261
Charles City County
$1,65514 mi · pop 6,760
Chesterfield County
$1,65517 mi · pop 366,019
Henrico County
$1,65518 mi · pop 333,120
Richmond city
$1,65520 mi · pop 227,171
New Kent County
$1,65521 mi · pop 23,296
Questions people ask
$1,655 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,442 for a studio, $1,507 for one bedroom, $2,072 for three and $2,553 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the 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
See what income a household needs for a given rent.
What does a rental in Hopewell actually go for?
HUD's number is one input. Search any address in Hopewell for a rent estimate built from nearby comps. 3 free searches, no card.
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