FY2027 Small Area FMR · Ridgeway, VA

ZIP 24148 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24148 (Ridgeway, VA) is $940 a month, up 3.3% from FY2026. That is 0% equal to the Henry County-Martinsville city, VA HUD Nonmetro FMR Area area-wide FMR of $943.

2-bedroom SAFMR$940per month ▲ 3.3%

Area-wide 2 BR FMR$943Henry County-Martinsville ci

Rank in the area9thof 12 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$846

2 BR Small Area FMR$940

110% of SAFMR$1,034

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

Studio$760▲ 1.3%

1 BR$770▲ 2.7%

2 BR$940▲ 3.3%

3 BR$1,140▲ 3.6%

4 BR$1,320▲ 2.3%

FY2027 FY2026

Where 24148 sits in the Henry County-Martinsville city, VA HUD Nonmetro FMR Area area

Of the 12 ZIP codes HUD lists for the area, 24148 has the 9th highest two-bedroom Small Area FMR. Henry County-Martinsville city, VA HUD Nonmetro FMR Area 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 $943 for two bedrooms; an agency that opts in to Small Area FMRs would use $940 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	$760	$684 – $836	$762	$750
1 bedroom	$770	$693 – $847	$767	$750
2 bedrooms	$940	$846 – $1,034	$943	$910
3 bedrooms	$1,140	$1,026 – $1,254	$1,144	$1,100
4 bedrooms	$1,320	$1,188 – $1,452	$1,321	$1,290

A household renting a two-bedroom home at the Small Area FMR of $940 needs about $37,600 a year to keep housing costs at 30% of income. The area median family income is $71,500 and the 80% low-income limit for four people is $63,900. ZIP code 24148 lies mainly in Henry County. See the Henry County-Martinsville city, VA HUD Nonmetro FMR Area county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
27048	Stoneville	7.2 mi	$1,050
27288	Eden	9.1 mi	$1,010
24165	Spencer	9.7 mi	$1,210
24078	Collinsville	9.7 mi	$940
24112	Martinsville	9.8 mi	$980
24089	Fieldale	10.2 mi	$1,040

Questions

What is the Fair Market Rent for ZIP code 24148?

HUD's FY2027 Small Area Fair Market Rents for 24148 are $760 (studio), $770 (1 BR), $940 (2 BR), $1,140 (3 BR) and $1,320 (4 BR) a month.

What is the Section 8 payment standard in 24148?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24148 that range is $846 to $1,034 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 24148?

The FY2026 income limits of the Henry County-Martinsville city, VA HUD Nonmetro FMR Area area apply: median family income $71,500, low-income (80%) limit $63,900 for a family of four.