FMR History — Southampton County-Franklin city, VA HUD Nonmetro FMR Area
Historical Fair Market Rents from FY2017 to FY2026. Current FMR page →
The 2-bedroom FMR in Southampton County-Franklin city, VA HUD Nonmetro FMR Area has changed from $748 in FY2017 to $1,051 in FY2026 — a +40.5% change over 9 years.
| Fiscal Year | Studio | 1BR | 2BR | YoY 2BR | 2BR in FY2026 $ | 3BR | 4BR |
|---|---|---|---|---|---|---|---|
| FY2026 (Latest) | $811 | $817 | $1,051 | -9.9% | $1,051 | $1,346 | $1,764 |
| FY2025 | $884 | $890 | $1,167 | +10.8% | $1,198 | $1,492 | $1,960 |
| FY2024 | $908 | $910 | $1,053 | +10.5% | $1,111 | $1,339 | $1,787 |
| FY2023 | $804 | $817 | $953 | +13% | $1,035 | $1,244 | $1,623 |
| FY2022 | $703 | $718 | $843 | +7.3% | $953 | $1,128 | $1,443 |
| FY2021 | $563 | $690 | $786 | -3.9% | $960 | $1,096 | $1,361 |
| FY2020 | $625 | $719 | $818 | +0.4% | $1,046 | $1,135 | $1,436 |
| FY2019 | $694 | $712 | $815 | -1.1% | $1,055 | $1,117 | $1,432 |
| FY2018 | $667 | $671 | $824 | +10.2% | $1,086 | $1,084 | $1,450 |
| FY2017 | $603 | $607 | $748 | — | $1,010 | $957 | $1,318 |
Related Pages
- Current FMR profile — Southampton County-Franklin city, VA HUD Nonmetro FMR Area
- Income limits — Southampton County-Franklin city, VA HUD Nonmetro FMR Area
- LIHTC maximum rents — Southampton County-Franklin city, VA HUD Nonmetro FMR Area
- HOME program rents — Southampton County-Franklin city, VA HUD Nonmetro FMR Area
- Metros with the biggest FMR increases
- All FMR areas in VA
Understanding FMR Trends
Fair Market Rents are published each fall for the upcoming fiscal year (October through September). HUD adjusts FMRs annually based on local rental market surveys, American Community Survey (ACS) data, and Consumer Price Index (CPI) adjustments. Periods of rapid rent growth — such as the 2021–2023 period of post-pandemic inflation — are reflected in sharp FMR increases, while periods of market cooling may produce flat or modestly rising FMRs.
Historical data is useful for housing advocates, economists, and policymakers analyzing long-term trends in housing affordability. A rising FMR generally indicates a tightening rental market; a FMR that grows slower than household incomes suggests improving affordability, while one that outpaces income growth signals worsening cost burden.