HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Richmond city, Virginia (FY 2026)
A two-bedroom in Richmond 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 Richmond 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
49th of 133
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Richmond moves to $1,651. That's unchanged. The full FY 2027 table is in the history section below.
Market check
Two-bedrooms in Richmond are asking $1,540. HUD says $1,655.
That's 7% below the county FMR. Median asking rent across 20 Richmond ZIP codes with active 2BR listings. FMR includes utilities and asking rents usually don't, so the true gap is a little smaller.
Comps for a specific address
A rent estimate built from nearby listings, next to the HUD number.
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 Richmond city the five published rates run from $1,442 to $2,553, studio through four bedrooms.
Richmond 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, Hanover County. 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. Richmond comes in at $1,655, about 32% above that, and ranks 49th of 133 in Virginia. Against the national median county ($1,018) it's about 63% above. Population is around 227,171.
Counties sharing the Richmond metro rate
Chesterfield County
$1,655VA · pop 366,019
Henrico County
$1,655VA · pop 333,120
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
Hopewell city
$1,655VA · pop 23,046
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 for the 17 ZIP codes it covers in Richmond. Two-bedroom rates run from $1,540 in 23222 (Richmond) to $2,010 in 23220 (Richmond), a $470 spread inside one city. Whether your housing authority uses the ZIP rate or the city rate depends on whether HUD has designated this area for Small Area FMRs. Ask the PHA which one it's on before you price a unit.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 23173 | Richmond | $1,800 | +8.8% |
| 23218 | Richmond | $1,590 | -3.9% |
| 23219 | Richmond | $1,710 | +3.3% |
| 23220 | Richmond | $2,010 | +21.5% |
| 23221 | Richmond | $1,990 | +20.2% |
| 23222 | Richmond | $1,540 | -6.9% |
| 23223 | Richmond | $1,550 | -6.3% |
| 23224 | Richmond | $1,540 | -6.9% |
| 23225 | Richmond | $1,650 | -0.3% |
| 23232 | Richmond | $1,590 | -3.9% |
| 23241 | Richmond | $1,590 | -3.9% |
| 23249 | Richmond | $1,655County rate | — |
| 23260 | Richmond | $1,590 | -3.9% |
| 23261 | Richmond | $1,590 | -3.9% |
| 23269 | Richmond | $1,655County rate | — |
| 23273 | Henrico | $1,655County rate | — |
| 23274 | Richmond | $1,655County rate | — |
| 23276 | Richmond | $1,655County rate | — |
| 23278 | Richmond | $1,655County rate | — |
| 23279 | Richmond | $1,655County rate | — |
| 23282 | Richmond | $1,655County rate | — |
| 23284 | Richmond | $2,010 | +21.5% |
| 23285 | Richmond | $1,655County rate | — |
| 23286 | Richmond | $1,590 | -3.9% |
| 23290 | Richmond | $1,655County rate | — |
| 23291 | Richmond | $1,655County rate | — |
| 23292 | Richmond | $1,655County rate | — |
| 23293 | Richmond | $1,590 | -3.9% |
| 23295 | Richmond | $1,655County rate | — |
| 23298 | Richmond | $1,710 | +3.3% |
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
Henrico County
$1,6553 mi · pop 333,120
Chesterfield County
$1,6559 mi · pop 366,019
Hanover County
$1,65515 mi · pop 110,513
Colonial Heights city
$1,65519 mi · pop 18,158
Hopewell city
$1,65520 mi · pop 23,046
Petersburg city
$1,65523 mi · pop 33,261
Prince George County
$1,65524 mi · pop 42,634
Charles City County
$1,65525 mi · pop 6,760
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 Richmond actually go for?
HUD's number is one input. Search any address in Richmond for a rent estimate built from nearby comps. 3 free searches, no card.
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