Spotsylvania County/Fredericksburg/22408

22408

ZIPSAFMR

Spotsylvania County, VA

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ZIP Investment Score

109Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,930	$1,740	7.8%
1 BR	$2,010	$1,650	8.6%
2 BR	$2,230	$2,090	7.8%
3 BR	$2,840	$2,340	8.7%
4 BR	$3,340	$2,800	8.4%
5 BR	$3,841	Not available	8.4%
6 BR	$4,417	Not available	8.4%
7 BR	$5,080	Not available	8.4%
8 BR	$5,842	Not available	8.4%

Purchase Price Calculator

Maximum purchase price

$248,657

Cost breakdown

+Likely effective rent$2,090

HUD FMR$2,230

Market rentUsed$2,090

Est. payment standard (96%)$2,140

-Principal and interest-$1,257

Loan amount$198,925

Down payment$49,731

Rate6.50%

Term30 years

-Operating costs-$633

Property taxes-$249

Insurance-$175

Utilities$0

HOA$0

Management-$209

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$33,446(67.3% ROI)

Projected value

$267,776

Return breakdown

Property appreciation+$19,119

Loan principal paid down+$7,127

Rental cash flow+$7,200

5-year hold

+$57,385(115.4% ROI)

Projected value

$281,332

Return breakdown

Property appreciation+$32,676

Loan principal paid down+$12,709

Rental cash flow+$12,000

10-year hold

+$123,929(249.2% ROI)

Projected value

$318,302

Return breakdown

Property appreciation+$69,645

Loan principal paid down+$30,284

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.11ratio

FMR$1,930

Market$1,740

vs market+$190

FMR is above market; underwrite to market rent.

1.11

1 BR

1.22ratio

FMR$2,010

Market$1,650

vs market+$360

FMR is above market; underwrite to market rent.

1.22

2 BR

1.07ratio

FMR$2,230

Market$2,090

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.07

3 BR

1.21ratio

FMR$2,840

Market$2,340

vs market+$500

FMR is above market; underwrite to market rent.

1.21

4 BR

1.19ratio

FMR$3,340

Market$2,800

vs market+$540

FMR is above market; underwrite to market rent.

1.19

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 22408 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 22408 (Fredericksburg, VA) is $2,230 a month. That is up 9.3% from $2,040 in FY 2026. Fredericksburg is in the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 14 ZIP codes in Spotsylvania County, 22408 has the 2nd-highest two-bedroom rent (county range $1,140–$2,240). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 22408 is 77% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 22408
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,770	$1,930	+9.0%	$1,737–$2,123
1BR	$1,830	$2,010	+9.8%	$1,809–$2,211
2BR	$2,040	$2,230	+9.3%	$2,007–$2,453
3BR	$2,570	$2,840	+10.5%	$2,556–$3,124
4BR	$3,030	$3,340	+10.2%	$3,006–$3,674

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 22408
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,930	$2,010	$2,230	$2,840	$3,340
FY 2026	$1,770	$1,830	$2,040	$2,570	$3,030
FY 2025	$1,770	$1,810	$2,040	$2,550	$3,010
FY 2024	$1,540	$1,570	$1,780	$2,210	$2,620
FY 2023	$1,370	$1,400	$1,590	$1,990	$2,370

Two-bedroom rent in nearby Spotsylvania County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 22408
22407	$2,150	−3.6%
22408Current	$2,230	—
22508	$1,730	−22.4%
22534	$1,780	−20.2%
22546	$1,510	−32.3%
22551	$1,680	−24.7%
22553	$2,240	+0.4%
22565	$2,130	−4.5%
22567	$1,570	−29.6%
22580	$1,310	−41.3%
22960	$1,190	−46.6%
23015	$1,400	−37.2%

Questions about ZIP 22408 rents

How much will Section 8 pay for a two-bedroom in ZIP 22408?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,230, that basic range is $2,007 to $2,453 a month. 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 22408 in?

ZIP 22408 is in the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 22408 for FY 2027?

The two-bedroom FMR rose 9.3%, from $2,040 in FY 2026 to $2,230 in FY 2027. Since FY 2023 it has risen 40.3%.

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

County fair market rent Fredericksburg, VA fair market rent VA statewide rents What is SAFMR?Data sources