FY2027 Small Area FMR · Richmond, VT

ZIP 05477 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 05477 (Richmond, VT) is $2,320 a month, up 3.6% from FY2026. That is 7% above the Burlington-South Burlington, VT area-wide FMR of $2,165.

2-bedroom SAFMR$2,320per month ▲ 3.6%

Area-wide 2 BR FMR$2,165Burlington-South Burlington,

Rank in the area6thof 51 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,088

2 BR Small Area FMR$2,320

110% of SAFMR$2,552

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,660▲ 5.7%

1 BR$1,840▲ 6.4%

2 BR$2,320▲ 3.6%

3 BR$2,930▲ 2.1%

4 BR$3,050▲ 2.7%

FY2027 FY2026

Where 05477 sits in the Burlington-South Burlington, VT area

Of the 51 ZIP codes HUD lists for the area, 05477 has the 6th highest two-bedroom Small Area FMR. Burlington-South Burlington, VT is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $2,165 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,320 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,660	$1,494 – $1,826	$1,550	$1,570
1 bedroom	$1,840	$1,656 – $2,024	$1,719	$1,730
2 bedrooms	$2,320	$2,088 – $2,552	$2,165	$2,240
3 bedrooms	$2,930	$2,637 – $3,223	$2,733	$2,870
4 bedrooms	$3,050	$2,745 – $3,355	$2,845	$2,970

A household renting a two-bedroom home at the Small Area FMR of $2,320 needs about $92,800 a year to keep housing costs at 30% of income. The area median family income is $123,400 and the 80% low-income limit for four people is $99,750. ZIP code 05477 lies mainly in Chittenden County. See the Burlington-South Burlington, VT metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
05465	Jericho	3.3 mi	$2,120
05495	Williston	6.7 mi	$2,410
05462	Huntington	7.2 mi	$2,120
05461	Hinesburg	8.4 mi	$2,200
05452	Essex Junction	9.5 mi	$2,060
05403	South Burlington	10.6 mi	$2,410

Questions

What is the Fair Market Rent for ZIP code 05477?

HUD's FY2027 Small Area Fair Market Rents for 05477 are $1,660 (studio), $1,840 (1 BR), $2,320 (2 BR), $2,930 (3 BR) and $3,050 (4 BR) a month.

What is the Section 8 payment standard in 05477?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 05477 that range is $2,088 to $2,552 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 05477?

The FY2026 income limits of the Burlington-South Burlington, VT area apply: median family income $123,400, low-income (80%) limit $99,750 for a family of four.