HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Montgomery County, Virginia (FY 2027)
A two-bedroom in Montgomery County carries a FY 2027 Fair Market Rent of $1,340 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Montgomery keys off that figure.
Two-bedroom FMR
$1,340
+5.4% from FY 2026
Payment standard
$1,206–$1,474
90% to 110% of the FMR, two-bedroom
Income to afford
$53,600
a year, with rent at 30% of income
Rank in Virginia
62nd 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 | $1,043 | $939–$1,147 | $41,720 | $20.06/hr | +14.6% |
| 1 bedroom | $1,050 | $945–$1,155 | $42,000 | $20.19/hr | +5.7% |
| 2 bedroom | $1,340 | $1,206–$1,474 | $53,600 | $25.77/hr | +5.4% |
| 3 bedroom | $1,783 | $1,605–$1,961 | $71,320 | $34.29/hr | +4.5% |
| 4 bedroom | $2,048 | $1,843–$2,253 | $81,920 | $39.38/hr | -3.9% |
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 | $2,355 | $2,120–$2,591 |
| 6 bedroom Estimate | $2,662 | $2,396–$2,928 |
| 7 bedroom Estimate | $2,970 | $2,673–$3,267 |
| 8 bedroom Estimate | $3,277 | $2,949–$3,605 |
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 Montgomery actually rent for?
Search any address in Montgomery 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 Montgomery somewhere between $1,206 and $1,474. 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.
$1,340 a month is affordable, by HUD's 30% rule, on an income of roughly $53,600 a year. Put another way, $26 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%$1,206 | Voucher pays at 100%$1,340 | Voucher pays at 110%$1,474 |
|---|---|---|---|---|
| $2,500 | $750 | $456 | $590 | $724 |
| $4,000 | $1,200 | $6 | $140 | $274 |
Rate history
The two-bedroom rate went up 5% from FY 2026 ($1,271) to FY 2027 ($1,340). Since FY 2020 it's up 35% in total, about 4.4% 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 | $797 | $872 | $993 | $1,432 | $1,743 | — |
| FY 2021 | $795 | $858 | $978 | $1,400 | $1,693 | -1.5% |
| FY 2022 | $743 | $801 | $935 | $1,328 | $1,600 | -4.4% |
| FY 2023 | $827 | $860 | $1,051 | $1,469 | $1,790 | +12.4% |
| FY 2024 | $993 | $999 | $1,261 | $1,721 | $2,140 | +20.0% |
| FY 2025 | $925 | $968 | $1,231 | $1,647 | $2,067 | -2.4% |
| FY 2026 | $910 | $993 | $1,271 | $1,706 | $2,132 | +3.2% |
| FY 2027In effect | $1,043 | $1,050 | $1,340 | $1,783 | $2,048 | +5.4% |
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 Montgomery, that runs from $1,043 for a studio up to $2,048 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 Montgomery in with one other county in the Blacksburg-Christiansburg-Radford metro, Radford city among them, and every one of them gets $1,340 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 Virginia's 133 counties, Montgomery ranks 62nd for two-bedroom FMR. That's about 6% above the state median of $1,262 and about 26% above the national median county at $1,063. About 99,101 people live here, 18th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,150 in 24138 (Pilot) and $1,470 in 24060 (Blacksburg), 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 |
|---|---|---|---|
| 24023 | Roanoke | $1,390 | +3.7% |
| 24060 | Blacksburg | $1,470 | +9.7% |
| 24061 | Blacksburg | $1,470 | +9.7% |
| 24062 | Blacksburg | $1,360 | +1.5% |
| 24063 | Blacksburg | $1,360 | +1.5% |
| 24068 | Christiansburg | $1,360 | +1.5% |
| 24073 | Christiansburg | $1,310 | -2.2% |
| 24111 | Mc Coy | $1,360 | +1.5% |
| 24138 | Pilot | $1,150 | -14.2% |
| 24149 | Riner | $1,390 | +3.7% |
| 24162 | Shawsville | $1,150 | -14.2% |
Counties sharing the Blacksburg-Christiansburg-Radford metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,340 two-bedroom figure as Montgomery.
Nearby counties
Two-bedroom FMR, with how each compares to Montgomery.
Radford city
12 mi · 16,726 people
$1,340
same rate
Floyd County
15 mi · 15,593 people
$1,090
-19%
Roanoke County
17 mi · 97,023 people
$1,464
+9%
Salem city
17 mi · 25,618 people
$1,464
+9%
Pulaski County
19 mi · 33,687 people
$952
-29%
Giles County
23 mi · 16,557 people
$999
-25%
Roanoke city
23 mi · 98,355 people
$1,464
+9%
Craig County
26 mi · 4,856 people
$1,464
+9%
Questions people ask
$1,340 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,043 for a studio, $1,050 for one bedroom, $1,783 for three and $2,048 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 Montgomery actually go for?
HUD's number is one input. Search any address in Montgomery for a rent estimate built from nearby comps. Free to start, no card.
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