Covington city
FY 2026 HUD Fair Market Rents in Virginia. Population: 5,722.
Fair Market Rents (2026)
Studio
National avg: $893
$773/mo
↑ 5.0% YoY
-13% vs US
1 Bedroom
National avg: $959
$778/mo
↑ 5.4% YoY
-19% vs US
2 Bedroom
National avg: $1,175
$914/mo
↑ 7.4% YoY
-22% vs US
3 Bedroom
National avg: $1,525
$1,259/mo
↑ 5.6% YoY
-17% vs US
4 Bedroom
National avg: $1,756
$1,358/mo
↑ 6.0% YoY
-23% vs US
Year-over-Year Comparison
| Bedrooms | FY 2025 | FY 2026 | Change |
|---|---|---|---|
| Studio | $736 | $773 | +$37 (+5.0%) |
| 1 Bedroom | $738 | $778 | +$40 (+5.4%) |
| 2 Bedroom | $851 | $914 | +$63 (+7.4%) |
| 3 Bedroom | $1,192 | $1,259 | +$67 (+5.6%) |
| 4 Bedroom | $1,281 | $1,358 | +$77 (+6.0%) |
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Required annual income for 1 BR
$31,120
$2,593/month gross
Required annual income for 2 BR
$36,560
$3,047/month gross
Other Counties in Virginia
Clarke County
1 BR: $2,015/mo
Hampton city
1 BR: $1,512/mo
Page County
1 BR: $811/mo
Roanoke County
1 BR: $1,053/mo
King George County
1 BR: $1,211/mo
Rappahannock County
1 BR: $1,254/mo
Data source: U.S. Department of Housing and Urban Development, FY 2026 Fair Market Rents. Fair Market Rents represent the 40th percentile of gross rents for standard quality units in each area.