FY2026 Fair Market Rents — Galax city
Studio
$765
1BR
$770
2BR
$914
3BR
$1,271
4BR
$1,481
Galax city, Virginia
FIPS 51640 · County-level FMR and income limit data
FMR Area: Carroll County-Galax city, VA HUD Nonmetro FMR Area
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $765 | $9,180 |
| 1-Bedroom | $770 | $9,240 |
| 2-Bedroom | $914 | $10,968 |
| 3-Bedroom | $1,271 | $15,252 |
| 4-Bedroom | $1,481 | $17,772 |
To afford the FY2026 2-bedroom FMR of $914/mo under the 30%-of-income rule, a household needs about
$36,560/yr ($3,047/mo). Area Median Income is $71,000.
At VA's state minimum wage of $12.41/hr, a worker would need to work 57 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $765 | $770 | $914 | $1,271 | $1,481 |
| FY2025 | $701 | $706 | $851 | $1,192 | $1,402 |
| FY2024 | $728 | $732 | $905 | $1,267 | $1,485 |
| FY2023 | $588 | $643 | $793 | $1,120 | $1,202 |
| FY2022 | $479 | $597 | $702 | $997 | $1,038 |
| FY2021 | $472 | $615 | $701 | $947 | $966 |
| FY2020 | $482 | $627 | $714 | $1,004 | $1,073 |
FY2026 Income Limits
Area Median Income: $71,000
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $16,800 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $28,000 | $32,000 | $36,000 | $39,950 | $43,150 | $46,350 |
| 80% AMI | $44,750 | $51,150 | $57,550 | $63,900 | $69,050 | $74,150 |