FY2025 Fair Market Rents — Southampton County-Franklin city, VA HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2025 in this area are:

Studio
$884
1BR
$890
2BR
$1,167
3BR
$1,492
4BR
$1,960
Hours/week at min wage
73 hrs
to afford the 2BR FMR @ $12.41/hr (VA)
National rank
#342
of 639 U.S. metros (top 54% most expensive)
YoY change (2BR)
+10.8%
+$114 vs FY2024
Voucher payment standard
$1,050–$1,284
PHAs set HCV payment at 90–110% of the 2BR FMR

Southampton County-Franklin city, VA HUD Metro FMR Area

Metropolitan area · VA · View full history · Income limits · LIHTC rents

FY2025 Fair Market Rents

Bedroom Size Monthly FMR Annual Equivalent
Efficiency (Studio) $884 $10,608
1-Bedroom $890 $10,680
2-Bedroom $1,167 $14,004
3-Bedroom $1,492 $17,904
4-Bedroom $1,960 $23,520

Recent 2-Bedroom FMR Trend

FY2023 $953 → FY2025 $1,167
Fiscal Year Studio 1BR 2BR 3BR 4BR
FY2025 $884 $890 $1,167 $1,492 $1,960
FY2024 $908 $910 $1,053 $1,339 $1,787
FY2023 $804 $817 $953 $1,244 $1,623

View full FMR history back to FY2000 →

FY2024 Income Limits

Area Median Income (AMI): $87,700

AMI Level 1p 2p 3p 4p 5p 6p
30% AMI (Extremely Low) $18,050 $20,600 $25,820 $31,200 $36,580 $41,960
50% AMI (Very Low) $30,050 $34,350 $38,650 $42,950 $46,400 $49,800
80% AMI (Low) $48,100 $55,000 $61,850 $68,700 $74,200 $79,700

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR
$14,004/yr
FMR as % of Area Median Income
16% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$46,680/yr
$3,890/mo gross income

FY2024 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band Studio 1BR 2BR 3BR 4BR
50% AMI Maximum $767 $877 $986 $1,183 $1,271
60% AMI Maximum $920 $1,052 $1,183 $1,420 $1,525

FY2024 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type Studio 1BR 2BR 3BR 4BR
High HOME Rent $908 $910 $1,053 $1,339 $1,425
Low HOME Rent $751 $858 $966 $1,073 $1,160

Compare Southampton County-Franklin city, VA HUD Metro FMR Area With Other VA Metros

vs. Blacksburg-Christiansburg-Radford, VA HUD Metro FMR Area vs. Buckingham County, VA HUD Metro FMR Area vs. Charlottesville, VA HUD Metro FMR Area vs. Culpeper County, VA HUD Metro FMR Area vs. Floyd County, VA HUD Metro FMR Area

Counties in This FMR Area

Related Pages