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Frederick County/Middletown/22645

22645

ZIPSAFMR
Frederick County, VA
Zillow

ZIP Investment Score

84Below average

095130300
BRFMR
Eff. Rent
0 BR$1,020$1,120
1 BR$1,130$1,240
2 BR$1,420$1,560
3 BR$1,770$1,950
4 BR$2,380$2,490
5 BR$2,737Not available
6 BR$3,148Not available
7 BR$3,620Not available
8 BR$4,163Not available

Purchase Price Calculator

Maximum purchase price
$169,899

Cost breakdown

+Likely effective rent$1,560
HUD FMR$1,420
Market rent$1,730
Est. payment standard (110%)Used$1,560
-Principal and interest-$859
Loan amount$135,919
Down payment$33,980
Rate6.50%
Term30 years
-Operating costs-$501
Property taxes-$170
Insurance-$175
Utilities$0
HOA$0
Management-$156
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,133(74.0% ROI)
Projected value
$182,962
Return breakdown
Property appreciation+$13,064
Loan principal paid down+$4,870
Rental cash flow+$7,200
5-year hold
+$43,010(126.6% ROI)
Projected value
$192,225
Return breakdown
Property appreciation+$22,326
Loan principal paid down+$8,684
Rental cash flow+$12,000
10-year hold
+$92,278(271.6% ROI)
Projected value
$217,485
Return breakdown
Property appreciation+$47,586
Loan principal paid down+$20,692
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.51
1 BR
0.69
2 BR
0.82
3 BR
0.75
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 22645 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 22645 (Middletown, VA) is $1,420 a month. That is unchanged from FY 2026. Middletown is in the Winchester, VA-WV 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 $1,505. Among 12 ZIP codes in Frederick County, 22645 is tied for the 11th-highest two-bedroom rent (county range $1,420–$2,260). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 22645 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 22645
BedroomsFY 2027Change90–110% range
Studio$1,020+3.0%$918–$1,122
1BR$1,1300.0%$1,017–$1,243
2BR$1,4200.0%$1,278–$1,562
3BR$1,770+0.6%$1,593–$1,947
4BR$2,3800.0%$2,142–$2,618

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 22645
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,130$1,420$1,770$2,380
FY 2026$990$1,130$1,420$1,760$2,380
FY 2025$890$1,000$1,260$1,570$2,120
FY 2024$800$870$1,110$1,400$1,840
FY 2023$790$790$1,010$1,300$1,700

Two-bedroom rent in nearby Frederick County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 22645
22601$1,670+17.6%
22602$1,590+12.0%
22603$1,630+14.8%
22624$1,4200.0%
22625$1,470+3.5%
22630$1,430+0.7%
22637$1,470+3.5%
22645Current$1,420—
22654$1,450+2.1%
22655$1,710+20.4%
22656$2,260+59.2%
22663$1,520+7.0%

Questions about ZIP 22645 rents

How much will Section 8 pay for a two-bedroom in ZIP 22645?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,505, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,355 to $1,656 a month; under the ZIP-level Small Area FMR of $1,420 it would be $1,278 to $1,562. 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 22645 in?

ZIP 22645 is in the Winchester, VA-WV MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,505.

How much did fair market rent change in ZIP 22645 for FY 2027?

The two-bedroom FMR was unchanged at $1,420 in FY 2027. Since FY 2023 it has risen 40.6%.

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 rentMiddletown, VA fair market rentVA statewide rentsWhat is SAFMR?Data sources