FY2027 Small Area FMR · Rustburg, VA

ZIP 24588 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24588 (Rustburg, VA) is $1,070 a month, down 0.9% from FY2026. That is 4% below the Lynchburg, VA area-wide FMR of $1,117.

2-bedroom SAFMR$1,070per month ▼ 0.9%

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

Rank in the area27thof 46 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$930▼ 1.1%

1 BR$930▼ 3.1%

2 BR$1,070▼ 0.9%

3 BR$1,480▼ 0.7%

4 BR$1,580▼ 1.9%

FY2027 FY2026

Where 24588 sits in the Lynchburg, VA area

Of the 46 ZIP codes HUD lists for the area, 24588 has the 27th 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 $1,070 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	$930	$837 – $1,023	$965	$940
1 bedroom	$930	$837 – $1,023	$971	$960
2 bedrooms	$1,070	$963 – $1,177	$1,117	$1,080
3 bedrooms	$1,480	$1,332 – $1,628	$1,547	$1,490
4 bedrooms	$1,580	$1,422 – $1,738	$1,678	$1,610

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 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 24588 lies mainly in Campbell 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
24501	Lynchburg	7.2 mi	$1,160
24504	Lynchburg	7.6 mi	$1,180
24550	Evington	8.3 mi	$1,070
24538	Concord	9.3 mi	$1,070
24502	Lynchburg	9.7 mi	$1,390
24554	Gladys	9.9 mi	$1,120

Questions

What is the Fair Market Rent for ZIP code 24588?

HUD's FY2027 Small Area Fair Market Rents for 24588 are $930 (studio), $930 (1 BR), $1,070 (2 BR), $1,480 (3 BR) and $1,580 (4 BR) a month.

What is the Section 8 payment standard in 24588?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24588 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 24588?

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.