FY2027 Small Area FMR · Marion, VA

ZIP 24354 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24354 (Marion, VA) is $940 a month, up 3.3% from FY2026. That is 0% equal to the Smyth County, VA area-wide FMR of $943.

2-bedroom SAFMR$940per month ▲ 3.3%

Area-wide 2 BR FMR$943Smyth County, VA

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$710▲ 10.9%

1 BR$740▼ 1.3%

2 BR$940▲ 3.3%

3 BR$1,170▼ 2.5%

4 BR$1,460▲ 1.4%

FY2027 FY2026

Where 24354 sits in the Smyth County, VA area

Of the 12 ZIP codes HUD lists for the area, 24354 has the 9th highest two-bedroom Small Area FMR. Smyth 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 $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	$710	$639 – $781	$710	$640
1 bedroom	$740	$666 – $814	$741	$750
2 bedrooms	$940	$846 – $1,034	$943	$910
3 bedrooms	$1,170	$1,053 – $1,287	$1,171	$1,200
4 bedrooms	$1,460	$1,314 – $1,606	$1,460	$1,440

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 $70,200 and the 80% low-income limit for four people is $63,900. ZIP code 24354 lies mainly in Smyth County. See the Smyth County, VA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
24311	Atkins	7.2 mi	$940
24319	Chilhowie	8.3 mi	$1,050
24375	Sugar Grove	9.4 mi	$1,080
24370	Saltville	10.0 mi	$1,000
24378	Troutdale	11.2 mi	$1,030
24316	Broadford	11.3 mi	$1,000

Questions

What is the Fair Market Rent for ZIP code 24354?

HUD's FY2027 Small Area Fair Market Rents for 24354 are $710 (studio), $740 (1 BR), $940 (2 BR), $1,170 (3 BR) and $1,460 (4 BR) a month.

What is the Section 8 payment standard in 24354?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24354 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 24354?

The FY2026 income limits of the Smyth County, VA area apply: median family income $70,200, low-income (80%) limit $63,900 for a family of four.