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Chittenden County/Richmond/05477

05477

ZIPSAFMR
Chittenden County, VT
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$1,660$1,660
1 BR$1,840$1,840
2 BR$2,320$2,320
3 BR$2,930$2,930
4 BR$3,050$3,050
5 BR$3,507Not available
6 BR$4,034Not available
7 BR$4,639Not available
8 BR$5,334Not available

Purchase Price Calculator

Maximum purchase price
$282,835

Cost breakdown

+Likely effective rent$2,320
HUD FMRUsed$2,320
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,430
Loan amount$226,268
Down payment$56,567
Rate6.50%
Term30 years
-Operating costs-$690
Property taxes-$283
Insurance-$175
Utilities$0
HOA$0
Management-$232
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,054(65.5% ROI)
Projected value
$304,582
Return breakdown
Property appreciation+$21,747
Loan principal paid down+$8,107
Rental cash flow+$7,200
5-year hold
+$63,623(112.5% ROI)
Projected value
$320,001
Return breakdown
Property appreciation+$37,167
Loan principal paid down+$14,456
Rental cash flow+$12,000
10-year hold
+$137,664(243.4% ROI)
Projected value
$362,052
Return breakdown
Property appreciation+$79,218
Loan principal paid down+$34,447
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 05477 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 05477 (Richmond, VT) is $2,320 a month. That is up 3.6% from $2,240 in FY 2026. Richmond is in the Burlington-South Burlington, VT 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 $2,165. Among 28 ZIP codes in Chittenden County, 05477 is tied for the 6th-highest two-bedroom rent (county range $1,930–$2,630). The median county two-bedroom FMR in Vermont is $1,570, so ZIP 05477 is 48% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 05477
BedroomsFY 2027Change90–110% range
Studio$1,660+5.7%$1,494–$1,826
1BR$1,840+6.4%$1,656–$2,024
2BR$2,320+3.6%$2,088–$2,552
3BR$2,930+2.1%$2,637–$3,223
4BR$3,050+2.7%$2,745–$3,355

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 05477
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,660$1,840$2,320$2,930$3,050
FY 2026$1,570$1,730$2,240$2,870$2,970
FY 2025$1,400$1,500$1,970$2,540$2,610
FY 2024$1,270$1,370$1,790$2,270$2,380
FY 2023$1,000$1,090$1,420$1,740$1,910

Two-bedroom rent in nearby Chittenden County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 05477
05454$1,930−16.8%
05461$2,200−5.2%
05462$2,120−8.6%
05465$2,120−8.6%
05468$2,200−5.2%
05477Current$2,320—
05482$1,940−16.4%
05487$1,930−16.8%
05489$1,930−16.8%
05490$2,240−3.4%
05494$2,630+13.4%
05495$2,410+3.9%

Questions about ZIP 05477 rents

How much will Section 8 pay for a two-bedroom in ZIP 05477?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,165, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,949 to $2,382 a month; under the ZIP-level Small Area FMR of $2,320 it would be $2,088 to $2,552. 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 ZIP 05477 in?

ZIP 05477 is in the Burlington-South Burlington, VT MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,165.

How much did fair market rent change in ZIP 05477 for FY 2027?

The two-bedroom FMR rose 3.6%, from $2,240 in FY 2026 to $2,320 in FY 2027. Since FY 2023 it has risen 63.4%.

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

County fair market rentRichmond, VT fair market rentVT statewide rentsWhat is SAFMR?Data sources