FY2027 Small Area FMR · Glasgow, VA

ZIP 24555 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24555 (Glasgow, VA) is $940 a month, up 3.3% from FY2026. That is 11% below the Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area area-wide FMR of $1,057.

2-bedroom SAFMR$940per month ▲ 3.3%

Area-wide 2 BR FMR$1,057Rockbridge County-Buena Vist

Rank in the area14thof 14 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$800▲ 1.3%

1 BR$870▲ 4.8%

2 BR$940▲ 3.3%

3 BR$1,310▲ 2.3%

4 BR$1,590▲ 3.2%

FY2027 FY2026

Where 24555 sits in the Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area area

Of the 14 ZIP codes HUD lists for the area, 24555 has the 14th highest two-bedroom Small Area FMR. Rockbridge County-Buena Vista city-Lexington 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 $1,057 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	$800	$720 – $880	$896	$790
1 bedroom	$870	$783 – $957	$971	$830
2 bedrooms	$940	$846 – $1,034	$1,057	$910
3 bedrooms	$1,310	$1,179 – $1,441	$1,464	$1,280
4 bedrooms	$1,590	$1,431 – $1,749	$1,767	$1,540

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 $85,700 and the 80% low-income limit for four people is $68,550. ZIP code 24555 lies mainly in Rockbridge County. See the Rockbridge County-Buena Vista city-Lexington 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
24578	Natural Bridge	4.3 mi	$1,180
24579	Natural Bridge Station	5.9 mi	$1,140
24416	Buena Vista	7.7 mi	$1,120
24450	Lexington	7.9 mi	$1,130
24526	Big Island	9.5 mi	$1,070
24066	Buchanan	14.2 mi	$1,660

Questions

What is the Fair Market Rent for ZIP code 24555?

HUD's FY2027 Small Area Fair Market Rents for 24555 are $800 (studio), $870 (1 BR), $940 (2 BR), $1,310 (3 BR) and $1,590 (4 BR) a month.

What is the Section 8 payment standard in 24555?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24555 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 24555?

The FY2026 income limits of the Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area area apply: median family income $85,700, low-income (80%) limit $68,550 for a family of four.