Northumberland County/Callao/22435

22435

ZIPSAFMR

Northumberland County, VA

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ZIP Investment Score

66Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$960	$960	1.1%
1 BR	$970	$970	1.2%
2 BR	$1,180	$1,160	0.6%
3 BR	$1,500	$1,250	2.3%
4 BR	$1,850	$1,310	1.3%
5 BR	$2,128	Not available	1.3%
6 BR	$2,447	Not available	1.3%
7 BR	$2,814	Not available	1.3%
8 BR	$3,236	Not available	1.3%

Purchase Price Calculator

Maximum purchase price

$110,459

Cost breakdown

+Likely effective rent$1,160

HUD FMR$1,180

Market rentUsed$1,160

Est. payment standard (99%)$1,170

-Principal and interest-$559

Loan amount$88,367

Down payment$22,092

Rate6.50%

Term30 years

-Operating costs-$401

Property taxes-$110

Insurance-$175

Utilities$0

HOA$0

Management-$116

=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

+$18,859(85.4% ROI)

Projected value

$118,952

Return breakdown

Property appreciation+$8,493

Loan principal paid down+$3,166

Rental cash flow+$7,200

5-year hold

+$32,161(145.6% ROI)

Projected value

$124,974

Return breakdown

Property appreciation+$14,515

Loan principal paid down+$5,646

Rental cash flow+$12,000

10-year hold

+$68,391(309.6% ROI)

Projected value

$141,397

Return breakdown

Property appreciation+$30,938

Loan principal paid down+$13,453

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

2 BR

1.02ratio

FMR$1,180

Market$1,160

vs market+$20

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

1.02

3 BR

1.20ratio

FMR$1,500

Market$1,250

vs market+$250

FMR is above market; underwrite to market rent.

1.20

4 BR

1.41ratio

FMR$1,850

Market$1,310

vs market+$540

FMR is above market; underwrite to market rent.

1.41

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 22435 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 22435 (Callao, VA) is $1,180 a month. That is down 5.6% from $1,250 in FY 2026. Callao is in the Northumberland County, VA non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,382. Among 10 ZIP codes in Northumberland County, 22435 is tied for the 4th-highest two-bedroom rent (county range $1,180–$1,380). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 22435 is 6% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 22435
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,010	$960	−5.0%	$864–$1,056
1BR	$1,020	$970	−4.9%	$873–$1,067
2BR	$1,250	$1,180	−5.6%	$1,062–$1,298
3BR	$1,500	$1,500	0.0%	$1,350–$1,650
4BR	$1,950	$1,850	−5.1%	$1,665–$2,035

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 22435
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$960	$970	$1,180	$1,500	$1,850
FY 2026	$1,010	$1,020	$1,250	$1,500	$1,950
FY 2025	$890	$900	$1,120	$1,420	$1,760
FY 2024area FMR	$929	$935	$1,160	$1,403	$1,779
FY 2023area FMR	$753	$814	$1,015	$1,291	$1,528

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Northumberland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 22435
22432	$1,180	0.0%
22435Current	$1,180	—
22460	$1,260	+6.8%
22473	$1,180	0.0%
22482	$1,180	0.0%
22503	$1,180	0.0%
22511	$1,180	0.0%
22530	$1,380	+16.9%
22539	$1,180	0.0%
22579	$1,380	+16.9%

Questions about ZIP 22435 rents

How much will Section 8 pay for a two-bedroom in ZIP 22435?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,382, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,244 to $1,520 a month; under the ZIP-level Small Area FMR of $1,180 it would be $1,062 to $1,298. 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 22435 in?

ZIP 22435 is in the Northumberland County, VA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,382.

How much did fair market rent change in ZIP 22435 for FY 2027?

The two-bedroom FMR fell 5.6%, from $1,250 in FY 2026 to $1,180 in FY 2027. Since FY 2025 it has risen 5.4%.

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