What is the Fair Market Rent for a 2-bedroom in Madison County, VA HUD Metro FMR Area?

The HUD Fair Market Rent for a 2-bedroom unit in Madison County, VA HUD Metro FMR Area is $1,096 per month for fiscal year 2025. The studio FMR is $907, 1-bedroom is $913, 3-bedroom is $1,361, and 4-bedroom is $1,609.

What income do you need to afford the FMR in Madison County, VA HUD Metro FMR Area?

Using the standard 30%-of-income affordability rule, a household would need to earn about $43,840 per year ($3,653 per month) to afford the FY2025 2-bedroom Fair Market Rent of $1,096 in Madison County, VA HUD Metro FMR Area.

FY2025 Fair Market Rents — Madison County, VA HUD Metro FMR Area

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

Studio

$907

1BR

$913

2BR

$1,096

3BR

$1,361

4BR

$1,609

Hours/week at min wage

68 hrs

to afford the 2BR FMR @ $12.41/hr (VA)

National rank

#405

of 639 U.S. metros (top 64% most expensive)

YoY change (2BR)

+5.4%

+$56 vs FY2024

Voucher payment standard

$986–$1,206

PHAs set HCV payment at 90–110% of the 2BR FMR

Madison County, 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)	$907	$10,884
1-Bedroom	$913	$10,956
2-Bedroom	$1,096	$13,152
3-Bedroom	$1,361	$16,332
4-Bedroom	$1,609	$19,308

Recent 2-Bedroom FMR Trend

FY2022 $957 → FY2025 $1,096

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2025	$907	$913	$1,096	$1,361	$1,609
FY2024	$786	$792	$1,040	$1,285	$1,526
FY2023	$743	$748	$984	$1,225	$1,462
FY2022	$723	$727	$957	$1,183	$1,450

View full FMR history back to FY2000 →

FY2024 Income Limits

Area Median Income (AMI): $98,000

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$17,350	$20,440	$25,820	$31,200	$36,580	$41,960
50% AMI (Very Low)	$28,850	$33,000	$37,100	$41,250	$44,550	$47,850
80% AMI (Low)	$46,200	$52,800	$59,400	$66,000	$71,250	$76,550

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$13,152/yr

FMR as % of Area Median Income

13.4% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$43,840/yr

$3,653/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	$857	$980	$1,102	$1,323	$1,420
60% AMI Maximum	$1,029	$1,176	$1,323	$1,587	$1,705

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	$786	$792	$1,040	$1,285	$1,526
Low HOME Rent	$721	$825	$927	$1,031	$1,113

Compare Madison County, 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