FY2027 Small Area FMR · Redwood, VA

ZIP 24146 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24146 (Redwood, VA) is $1,080 a month, up 14.9% from FY2026. That is 0% equal to the Franklin County, VA area-wide FMR of $1,080.

2-bedroom SAFMR$1,080per month ▲ 14.9%

Area-wide 2 BR FMR$1,080Franklin County, VA

Rank in the area10thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$972

2 BR Small Area FMR$1,080

110% of SAFMR$1,188

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

Studio$950▲ 23.4%

1 BR$990▲ 15.1%

2 BR$1,080▲ 14.9%

3 BR$1,500▲ 14.5%

4 BR$1,810▲ 14.6%

FY2027 FY2026

Where 24146 sits in the Franklin County, VA area

Of the 18 ZIP codes HUD lists for the area, 24146 has the 10th highest two-bedroom Small Area FMR. Franklin County, 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 $1,080 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,080 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	$950	$855 – $1,045	$949	$770
1 bedroom	$990	$891 – $1,089	$987	$860
2 bedrooms	$1,080	$972 – $1,188	$1,080	$940
3 bedrooms	$1,500	$1,350 – $1,650	$1,495	$1,310
4 bedrooms	$1,810	$1,629 – $1,991	$1,805	$1,580

A household renting a two-bedroom home at the Small Area FMR of $1,080 needs about $43,200 a year to keep housing costs at 30% of income. The area median family income is $89,500 and the 80% low-income limit for four people is $71,600. ZIP code 24146 lies mainly in Franklin County. See the Franklin County, VA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
24151	Rocky Mount	4.5 mi	$1,070
24067	Callaway	8.3 mi	$940
24092	Glade Hill	8.6 mi	$950
24065	Boones Mill	8.9 mi	$1,160
24184	Wirtz	9.3 mi	$940
24176	Union Hall	12.2 mi	$1,280

Questions

What is the Fair Market Rent for ZIP code 24146?

HUD's FY2027 Small Area Fair Market Rents for 24146 are $950 (studio), $990 (1 BR), $1,080 (2 BR), $1,500 (3 BR) and $1,810 (4 BR) a month.

What is the Section 8 payment standard in 24146?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24146 that range is $972 to $1,188 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 24146?

The FY2026 income limits of the Franklin County, VA area apply: median family income $89,500, low-income (80%) limit $71,600 for a family of four.