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

The HUD Fair Market Rent for a 2-bedroom unit in Southampton County-Franklin city, VA HUD Metro FMR Area is $843 per month for fiscal year 2022. The studio FMR is $703, 1-bedroom is $718, 3-bedroom is $1,128, and 4-bedroom is $1,443.

What income do you need to afford the FMR in Southampton County-Franklin city, VA HUD Metro FMR Area?

Using the standard 30%-of-income affordability rule, a household would need to earn about $33,720 per year ($2,810 per month) to afford the FY2022 2-bedroom Fair Market Rent of $843 in Southampton County-Franklin city, VA HUD Metro FMR Area.

FY2022 Fair Market Rents — Southampton County-Franklin city, VA HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2022 in this area are:

Studio

$703

1BR

$718

2BR

$843

3BR

$1,128

4BR

$1,443

Hours/week at min wage

53 hrs

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

National rank

#427

of 646 U.S. metros (top 67% most expensive)

Voucher payment standard

$759–$927

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

FY2022 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$703	$8,436
1-Bedroom	$718	$8,616
2-Bedroom	$843	$10,116
3-Bedroom	$1,128	$13,536
4-Bedroom	$1,443	$17,316

FY2022 Income Limits

Area Median Income (AMI): $74,200

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$15,550	$18,310	$23,030	$27,750	$32,470	$37,190
50% AMI (Very Low)	$25,850	$29,550	$33,250	$36,900	$39,900	$42,850
80% AMI (Low)	$41,350	$47,250	$53,150	$59,050	$63,800	$68,500

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$10,116/yr

FMR as % of Area Median Income

13.6% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$33,720/yr

$2,810/mo gross income

FY2022 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	$649	$742	$834	$1,001	$1,075
60% AMI Maximum	$779	$890	$1,001	$1,202	$1,291

FY2022 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	$703	$718	$843	$1,128	$1,205
Low HOME Rent	$646	$738	$831	$922	$997

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