HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Salem city, Virginia (FY 2027)
A two-bedroom in Salem city carries a FY 2027 Fair Market Rent of $1,464 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Salem keys off that figure.
Two-bedroom FMR
$1,464
+16.7% from FY 2026
Payment standard
$1,318–$1,610
90% to 110% of the FMR, two-bedroom
Income to afford
$58,560
a year, with rent at 30% of income
Rank in Virginia
59th 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 | $1,186 | $1,067–$1,305 | $47,440 | $22.81/hr | +18.1% |
| 1 bedroom | $1,250 | $1,125–$1,375 | $50,000 | $24.04/hr | +18.7% |
| 2 bedroom | $1,464 | $1,318–$1,610 | $58,560 | $28.15/hr | +16.7% |
| 3 bedroom | $2,022 | $1,820–$2,224 | $80,880 | $38.88/hr | +16.0% |
| 4 bedroom | $2,447 | $2,202–$2,692 | $97,880 | $47.06/hr | +16.3% |
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 | $2,814 | $2,533–$3,095 |
| 6 bedroom Estimate | $3,181 | $2,863–$3,499 |
| 7 bedroom Estimate | $3,548 | $3,193–$3,903 |
| 8 bedroom Estimate | $3,915 | $3,524–$4,307 |
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 Salem actually rent for?
Search any address in Salem for a rent estimate built from nearby comps, with the HUD figure right next to it.
No card needed
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 Salem somewhere between $1,318 and $1,610. 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.
$1,464 a month is affordable, by HUD's 30% rule, on an income of roughly $58,560 a year. Put another way, $28 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%$1,318 | Voucher pays at 100%$1,464 | Voucher pays at 110%$1,610 |
|---|---|---|---|---|
| $2,500 | $750 | $568 | $714 | $860 |
| $4,000 | $1,200 | $118 | $264 | $410 |
Rate history
The two-bedroom rate went up 17% from FY 2026 ($1,254) to FY 2027 ($1,464). Since FY 2020 it's up 73% in total, about 8.2% 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 | $555 | $668 | $844 | $1,146 | $1,261 | — |
| FY 2021 | $641 | $743 | $941 | $1,268 | $1,387 | +11.5% |
| FY 2022 | $617 | $700 | $879 | $1,187 | $1,316 | -6.6% |
| FY 2023 | $723 | $803 | $990 | $1,358 | $1,533 | +12.6% |
| FY 2024 | $811 | $894 | $1,088 | $1,513 | $1,760 | +9.9% |
| FY 2025 | $892 | $948 | $1,141 | $1,597 | $1,885 | +4.9% |
| FY 2026 | $1,004 | $1,053 | $1,254 | $1,743 | $2,104 | +9.9% |
| FY 2027In effect | $1,186 | $1,250 | $1,464 | $2,022 | $2,447 | +16.7% |
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 Salem, that runs from $1,186 for a studio up to $2,447 for four bedrooms, all five rates in the table above.
This is a metro rate. The city doesn't get one of its own. HUD lumps Salem in with 4 other cities in the Roanoke metro, Roanoke city, Roanoke County, Botetourt County among them, and every one of them gets $1,464 for a two-bedroom. Where you are inside the metro doesn't change the city number. It does change the ZIP number, covered below.
Among Virginia's 133 counties, Salem ranks 59th for two-bedroom FMR. That's about 16% above the state median of $1,262 and about 38% above the national median county at $1,063. About 25,618 people live here, 69th in the state.
Rates by ZIP code
HUD also publishes Small Area FMRs by ZIP code. For the one ZIP code it covers in Salem, the two-bedroom rate is $1,520 across the board, so there's no ZIP-level story here.
Counties sharing the Roanoke metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,464 two-bedroom figure as Salem.
Nearby counties
Two-bedroom FMR, with how each compares to Salem.
Roanoke County
1 mi · 97,023 people
$1,464
same rate
Roanoke city
6 mi · 98,355 people
$1,464
same rate
Montgomery County
17 mi · 99,101 people
$1,340
-8%
Botetourt County
19 mi · 34,004 people
$1,464
same rate
Craig County
19 mi · 4,856 people
$1,464
same rate
Franklin County
23 mi · 55,130 people
$1,080
-26%
Bedford County
28 mi · 80,894 people
$1,117
-24%
Floyd County
28 mi · 15,593 people
$1,090
-26%
Questions people ask
$1,464 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,186 for a studio, $1,250 for one bedroom, $2,022 for three and $2,447 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 Salem actually go for?
HUD's number is one input. Search any address in Salem for a rent estimate built from nearby comps. Free to start, no card.
Free tier. No credit card.