Virginia · FIPS 51620 · HUD FY 2027
Franklin city, Virginia Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Franklin city is $1,032 a month (rent plus utilities), 42% below the Virginia average of $1,792 and 41% below the U.S. average of $1,761. That is down $19 (1.8%) from FY 2026. At 30% of income, a household needs about $41,280 a year to afford it.
- $1,0322-bedroom FMR−$19 (−1.8%) vs FY 2026
- $8971-bedroom FMRVirginia: $1,596 · U.S.: $1,478
- $41,280Income for a 2-bedroom$20/hour full-time
- 97 of 1332BR rank in Virginia1 = highest rent
| Unit | Franklin city FY 2027 | FY 2026 | Change | Virginia avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $874 | $811 | +$63 (+7.8%) | $1,536 | $1,379 | $34,960 |
| 1 bedroom | $897 | $817 | +$80 (+9.8%) | $1,596 | $1,478 | $35,880 |
| 2 bedrooms | $1,032 | $1,051 | −$19 (−1.8%) | $1,792 | $1,761 | $41,280 |
| 3 bedrooms | $1,392 | $1,346 | +$46 (+3.4%) | $2,326 | $2,266 | $55,680 |
| 4 bedrooms | $1,725 | $1,764 | −$39 (−2.2%) | $2,752 | $2,607 | $69,000 |
How Franklin city compares
- Franklin 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: $874, $897, $1,032, $1,392, $1,725. 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.