FY2027 Small Area FMR · Goode, VA

ZIP 24556 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24556 (Goode, VA) is $1,130 a month, down 6.6% from FY2026. That is 1% above the Lynchburg, VA area-wide FMR of $1,117.

2-bedroom SAFMR$1,130per month ▼ 6.6%

Area-wide 2 BR FMR$1,117Lynchburg, VA

Rank in the area21stof 46 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,017

2 BR Small Area FMR$1,130

110% of SAFMR$1,243

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

Studio$970▼ 7.6%

1 BR$980▼ 7.5%

2 BR$1,130▼ 6.6%

3 BR$1,560▼ 6.6%

4 BR$1,690▼ 5.6%

FY2027 FY2026

Where 24556 sits in the Lynchburg, VA area

Of the 46 ZIP codes HUD lists for the area, 24556 has the 21st highest two-bedroom Small Area FMR. Lynchburg, 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 $1,117 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,130 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	$970	$873 – $1,067	$965	$1,050
1 bedroom	$980	$882 – $1,078	$971	$1,060
2 bedrooms	$1,130	$1,017 – $1,243	$1,117	$1,210
3 bedrooms	$1,560	$1,404 – $1,716	$1,547	$1,670
4 bedrooms	$1,690	$1,521 – $1,859	$1,678	$1,790

A household renting a two-bedroom home at the Small Area FMR of $1,130 needs about $45,200 a year to keep housing costs at 30% of income. The area median family income is $88,300 and the 80% low-income limit for four people is $70,650. ZIP code 24556 lies mainly in Bedford County. See the Lynchburg, VA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
24570	Lowry	2.5 mi	$1,130
24551	Forest	4.3 mi	$1,270
24523	Bedford	7.1 mi	$1,070
24536	Coleman Falls	9.2 mi	$1,120
24503	Lynchburg	9.8 mi	$1,070
24502	Lynchburg	9.8 mi	$1,390

Questions

What is the Fair Market Rent for ZIP code 24556?

HUD's FY2027 Small Area Fair Market Rents for 24556 are $970 (studio), $980 (1 BR), $1,130 (2 BR), $1,560 (3 BR) and $1,690 (4 BR) a month.

What is the Section 8 payment standard in 24556?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24556 that range is $1,017 to $1,243 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 24556?

The FY2026 income limits of the Lynchburg, VA area apply: median family income $88,300, low-income (80%) limit $70,650 for a family of four.