Richmond, VA Fair Market Rent (FY2026)
Richmond, VA HUD Metro FMR Area · VA · 16 counties · pop. 1,309,464 (2023)
The FY2026 Fair Market Rent for a 2-bedroom in Richmond, VA is $1,655/month. Across bedroom sizes the HUD FMR runs from $1,442 (studio) to $2,553 (4-bedroom). That 2-bedroom figure is $680 above the US national median FMR of $975 — far above the national median FMR — and ranks #50 of 75 among the largest metros (1 = most expensive). FMR is the federal voucher rent standard, not the market median.
Source: HUD USER, FY2026 Fair Market Rents (40th percentile, revised final). Data as of June 2026.
Richmond, VA FMR by bedroom size
| Unit size | Monthly FMR | ≈ Weekly | Annual |
|---|---|---|---|
| Studio / efficiency | $1,442 | $333 | $17,304 |
| 1-bedroom | $1,507 | $348 | $18,084 |
| 2-bedroom | $1,655 | $382 | $19,860 |
| 3-bedroom | $2,072 | $479 | $24,864 |
| 4-bedroom | $2,553 | $590 | $30,636 |
Source: HUD USER, FY2026 Fair Market Rents (40th percentile, revised final). Data as of June 2026.
Weekly and annual figures are simple conversions of the monthly FMR (÷4.33 and ×12). The monthly FMR is HUD's published value. Verify on huduser.gov.
What this FMR means
Fair Market Rent is HUD's estimate of the 40th-percentile gross rent — contract rent plus tenant-paid utilities — for a modest, non-luxury unit in Richmond, VA. It is recalculated each fiscal year from American Community Survey rent data and a current-year inflation factor. Public housing agencies use the FMR to set Housing Choice Voucher (Section 8) payment standards, typically 90–110% of the FMR. A higher FMR means the program will cover a higher rent in this area; it does not mean landlords charge exactly this much.
Richmond, VA vs its state and the US
| Benchmark | 2-bedroom FMR |
|---|---|
| Richmond, VA | $1,655 |
| Virginia state median | $1,022 |
| US national median | $975 |
Richmond, VA sits in Virginia, where the median area's 2-bedroom FMR is $1,022 and areas range from $914 to $2,246.
Metro areas with a similar FMR
The five areas closest to Richmond, VA on the 2-bedroom FMR scale:
| Metro area | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Richmond, VA (this area) | $1,442 | $1,507 | $1,655 | $2,072 | $2,553 |
| Jacksonville, FL | $1,355 | $1,382 | $1,658 | $2,043 | $2,561 |
| Fresno, CA | $1,347 | $1,355 | $1,664 | $2,314 | $2,660 |
| Charlotte-Concord-Gastonia, NC-SC | $1,469 | $1,538 | $1,686 | $2,076 | $2,637 |
| Albany-Schenectady-Troy, NY | $1,217 | $1,417 | $1,702 | $2,041 | $2,253 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $1,242 | $1,405 | $1,709 | $2,262 | $2,531 |
Frequently asked questions
What is the FY2026 Fair Market Rent for a 2-bedroom in Richmond, VA?
The FY2026 HUD Fair Market Rent for a two-bedroom unit in the Richmond, VA HUD Metro FMR Area is $1,655 per month. FMR is the 40th-percentile gross rent (including utilities) HUD uses to set Housing Choice Voucher payment standards — it is not the local market median. Verify the current figure at huduser.gov.
What are the FMRs for other bedroom sizes in Richmond, VA?
In FY2026 the FMRs are $1,442 (studio), $1,507 (1-bedroom), $1,655 (2-bedroom), $2,072 (3-bedroom) and $2,553 (4-bedroom) per month. Larger units have higher FMRs because they assume more bedrooms and occupants.
Is rent in Richmond, VA high compared with the rest of the US?
Its 2-bedroom FMR of $1,655 is $680 above the national median FMR of $975 (+70%) — far above the national median FMR. Among the 75 largest metros it ranks #50 of 75 by 2-bedroom FMR (1 = most expensive).
Does the FMR mean my voucher will cover that much rent?
Not exactly. The local public housing agency (PHA) sets a "payment standard" usually between 90% and 110% of the FMR, and your subsidy is based on that standard minus roughly 30% of your adjusted income. The FMR is the benchmark, not a guaranteed amount — check with the PHA that serves Richmond, VA.
Keep exploring
Source & accuracy
FY2026 Fair Market Rents, U.S. Dept. of Housing & Urban Development — HUD USER (public domain). FMR is the federal voucher rent standard, not the market median. Figures are a June 2026 snapshot of HUD's revised final FY2026 file; verify the current value on huduser.gov before relying on it.
Last updated: 2026-06-20