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Palmyra, VA

CitySAFMR
Fluvanna County
Found 1 ZIP

City Median Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$1,420$1,560
1 BR$1,600$1,760
2 BR$1,820$1,880
3 BR$2,220$2,060
4 BR$2,720$2,360
5 BR$3,128Not available
6 BR$3,597Not available
7 BR$4,137Not available
8 BR$4,757Not available

Purchase Price Calculator

Maximum purchase price
$217,451

Cost breakdown

+Likely effective rent$1,880
HUD FMR$1,820
Market rent$1,910
Est. payment standard (103%)Used$1,880
-Principal and interest-$1,100
Loan amount$173,961
Down payment$43,490
Rate6.50%
Term30 years
-Operating costs-$580
Property taxes-$217
Insurance-$175
Utilities$0
HOA$0
Management-$188
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,153(69.3% ROI)
Projected value
$234,171
Return breakdown
Property appreciation+$16,720
Loan principal paid down+$6,233
Rental cash flow+$7,200
5-year hold
+$51,689(118.9% ROI)
Projected value
$246,026
Return breakdown
Property appreciation+$28,575
Loan principal paid down+$11,114
Rental cash flow+$12,000
10-year hold
+$111,388(256.1% ROI)
Projected value
$278,355
Return breakdown
Property appreciation+$60,905
Loan principal paid down+$26,484
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.77
1 BR
0.86
2 BR
0.95
3 BR
1.08
4 BR
1.15
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Palmyra, VA fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Palmyra, VA is $1,820 a month. That is down 9.9% from $2,020 in FY 2026. Palmyra is in the Charlottesville, VA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,642. The median county two-bedroom FMR in Virginia is $1,262, so Palmyra is 44% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Palmyra, VA
BedroomsFY 2027Change90–110% range
Studio$1,420−9.6%$1,278–$1,562
1BR$1,600−9.6%$1,440–$1,760
2BR$1,820−9.9%$1,638–$2,002
3BR$2,220−9.8%$1,998–$2,442
4BR$2,720−9.9%$2,448–$2,992

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Palmyra, VA
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,420$1,600$1,820$2,220$2,720
FY 2026$1,570$1,770$2,020$2,460$3,020
FY 2025$1,600$1,690$1,970$2,460$2,990
FY 2024$1,530$1,560$1,850$2,330$2,880
FY 2023$1,250$1,260$1,500$1,860$2,310

Questions about Palmyra, VA rents

How much will Section 8 pay for a two-bedroom in Palmyra, VA?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,642, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,478 to $1,806 a month; under the ZIP-level Small Area FMR of $1,820 it would be $1,638 to $2,002. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is Palmyra, VA in?

Palmyra, VA is in the Charlottesville, VA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,642.

How much did fair market rent change in Palmyra, VA for FY 2027?

The two-bedroom FMR fell 9.9%, from $2,020 in FY 2026 to $1,820 in FY 2027. Since FY 2023 it has risen 21.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set