FY2027 Small Area FMR · Grundy, VA

ZIP 24614 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24614 (Grundy, VA) is $1,030 a month, up 7.3% from FY2026. That is 9% above the Buchanan County, VA area-wide FMR of $943.

2-bedroom SAFMR$1,030per month ▲ 7.3%

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

Rank in the area6thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$927

2 BR Small Area FMR$1,030

110% of SAFMR$1,133

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

Studio$870▲ 4.8%

1 BR$950▲ 8.0%

2 BR$1,030▲ 7.3%

3 BR$1,430▲ 6.7%

4 BR$1,640▲ 4.5%

FY2027 FY2026

Where 24614 sits in the Buchanan County, VA area

Of the 18 ZIP codes HUD lists for the area, 24614 has the 6th highest two-bedroom Small Area FMR. Buchanan 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 $1,030 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	$870	$783 – $957	$799	$830
1 bedroom	$950	$855 – $1,045	$866	$880
2 bedrooms	$1,030	$927 – $1,133	$943	$960
3 bedrooms	$1,430	$1,287 – $1,573	$1,306	$1,340
4 bedrooms	$1,640	$1,476 – $1,804	$1,506	$1,570

A household renting a two-bedroom home at the Small Area FMR of $1,030 needs about $41,200 a year to keep housing costs at 30% of income. The area median family income is $54,400 and the 80% low-income limit for four people is $63,900. ZIP code 24614 lies mainly in Buchanan County. See the Buchanan County, VA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
24631	Oakwood	7.1 mi	$940
24603	Big Rock	7.6 mi	$940
24656	Vansant	9.0 mi	$1,030
24634	Pilgrims Knob	9.5 mi	$1,110
24620	Hurley	9.7 mi	$940
41566	Steele	10.2 mi	$1,100

Questions

What is the Fair Market Rent for ZIP code 24614?

HUD's FY2027 Small Area Fair Market Rents for 24614 are $870 (studio), $950 (1 BR), $1,030 (2 BR), $1,430 (3 BR) and $1,640 (4 BR) a month.

What is the Section 8 payment standard in 24614?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24614 that range is $927 to $1,133 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 24614?

The FY2026 income limits of the Buchanan County, VA area apply: median family income $54,400, low-income (80%) limit $63,900 for a family of four.