Virginia · FIPS 51580 · HUD FY 2027
Covington city, Virginia Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Covington city is $943 a month (rent plus utilities), 47% below the Virginia average of $1,792 and 46% below the U.S. average of $1,761. That is up $29 (3.2%) from FY 2026. At 30% of income, a household needs about $37,720 a year to afford it.
- $9432-bedroom FMR+$29 (+3.2%) vs FY 2026
- $7901-bedroom FMRVirginia: $1,596 · U.S.: $1,478
- $37,720Income for a 2-bedroom$18/hour full-time
- 108 of 1332BR rank in Virginia1 = highest rent
| Unit | Covington city FY 2027 | FY 2026 | Change | Virginia avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $786 | $773 | +$13 (+1.7%) | $1,536 | $1,379 | $31,440 |
| 1 bedroom | $790 | $778 | +$12 (+1.5%) | $1,596 | $1,478 | $31,600 |
| 2 bedrooms | $943 | $914 | +$29 (+3.2%) | $1,792 | $1,761 | $37,720 |
| 3 bedrooms | $1,246 | $1,259 | −$13 (−1.0%) | $2,326 | $2,266 | $49,840 |
| 4 bedrooms | $1,389 | $1,358 | +$31 (+2.3%) | $2,752 | $2,607 | $55,560 |
How Covington city compares
- Covington city is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Virginia, 2-bedroom FMRs run from $943 (Wythe County) to $2,438 (Alexandria city).
- Studio to 4-bedroom: $786, $790, $943, $1,246, $1,389. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.