FY2027 Small Area FMR · Richmond, VA

ZIP 23235 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 23235 (Richmond, VA) is $1,900 a month, down 0.5% from FY2026. That is 15% above the Richmond, VA area-wide FMR of $1,651.

2-bedroom SAFMR$1,900per month ▼ 0.5%

Area-wide 2 BR FMR$1,651Richmond, VA

Rank in the area19thof 118 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,710

2 BR Small Area FMR$1,900

110% of SAFMR$2,090

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

Studio$1,680▲ 1.2%

1 BR$1,750▲ 0.6%

2 BR$1,900▼ 0.5%

3 BR$2,350▼ 1.7%

4 BR$2,880▼ 2.4%

FY2027 FY2026

Where 23235 sits in the Richmond, VA area

Of the 118 ZIP codes HUD lists for the area, 23235 has the 19th highest two-bedroom Small Area FMR. Richmond, VA 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 $1,651 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,900 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	$1,680	$1,512 – $1,848	$1,456	$1,660
1 bedroom	$1,750	$1,575 – $1,925	$1,517	$1,740
2 bedrooms	$1,900	$1,710 – $2,090	$1,651	$1,910
3 bedrooms	$2,350	$2,115 – $2,585	$2,039	$2,390
4 bedrooms	$2,880	$2,592 – $3,168	$2,499	$2,950

A household renting a two-bedroom home at the Small Area FMR of $1,900 needs about $76,000 a year to keep housing costs at 30% of income. The area median family income is $113,500 and the 80% low-income limit for four people is $90,800. ZIP code 23235 lies mainly in Chesterfield County and Richmond city. See the Richmond, VA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
23225	Richmond	2.9 mi	$1,630
23236	Richmond	2.9 mi	$2,020
23173	Richmond	4.6 mi	$1,790
23221	Richmond	4.7 mi	$1,930
23229	Henrico	5.0 mi	$1,650
23226	Richmond	5.0 mi	$2,040

Questions

What is the Fair Market Rent for ZIP code 23235?

HUD's FY2027 Small Area Fair Market Rents for 23235 are $1,680 (studio), $1,750 (1 BR), $1,900 (2 BR), $2,350 (3 BR) and $2,880 (4 BR) a month.

What is the Section 8 payment standard in 23235?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 23235 that range is $1,710 to $2,090 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 23235?

The FY2026 income limits of the Richmond, VA area apply: median family income $113,500, low-income (80%) limit $90,800 for a family of four.