Location: Surry County, VA | Metro: Surry County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
U.S. Census Bureau data (2024)
In ZIP code 23883, the economics of Section 8 housing can be analyzed using the SAFMR (Small Area Fair Market Rent) and local market rent data. For a two-bedroom apartment, the SAFMR is set at $1,360 per month for fiscal year 2026. This figure represents the maximum amount that the Housing Choice Voucher program will pay for rent in this specific ZIP code. Local market rents, according to the Census ACS, average $1,350 per month for a similar unit size.
A landlord participating in the Section 8 program receives payment from the government based on the SAFMR, but the actual reimbursement depends on several factors. First, the tenant is required to contribute a portion of their income towards rent. This contribution is typically 30% of the household's adjusted monthly income. Second, the program includes utility allowances which cover a portion of the tenant's energy costs. These allowances vary but are designed to ensure that the total housing cost does not exceed 40% of the tenant's income.
To illustrate, if a tenant's monthly income is $1,000, they would pay $300 towards rent ($1,000 x 0.30). The remaining $1,060 of the SAFMR ($1,360 - $300) would be covered by the voucher. However, the actual reimbursement could be slightly less due to the utility allowance being paid directly to the tenant. If the utility allowance is $100, then the landlord would receive $960 from the voucher plus the $300 from the tenant, totaling $1,260. This example assumes the tenant’s income is exactly $1,000; actual amounts will vary based on individual incomes.
The SAFMR rate being set specifically for ZIP 23883 means that it reflects the unique rental market conditions of this area. It is higher than the local market rent, indicating that landlords who accept Section 8 vouchers can expect a reimbursement that matches or slightly exceeds the average market rate for a two-bedroom unit.
In summary, for a two-bedroom apartment in ZIP 23883, landlords can expect a reimbursement close to the SAFMR of $1,360. Given the local market rent of $1,350, there is a slight surplus when considering the average market conditions. However, the exact amount received by the landlord will depend on the tenant’s income and any utility allowances. The reimbursement gap or surplus for a typical 2BR voucher in this ZIP code is approximately $10, favoring landlords with a small surplus over the local market average.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.