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Frederick County/Stephens City/22655

22655

ZIPSAFMR
Frederick County, VA
Zillow

ZIP Investment Score

116Above average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,330
1 BR$1,340$1,440
2 BR$1,710$1,610
3 BR$2,150$2,260
4 BR$2,860$2,580
5 BR$3,289Not available
6 BR$3,782Not available
7 BR$4,350Not available
8 BR$5,002Not available

Purchase Price Calculator

Maximum purchase price
$177,329

Cost breakdown

+Likely effective rent$1,610
HUD FMR$1,710
Market rentUsed$1,610
Est. payment standard (96%)$1,650
-Principal and interest-$897
Loan amount$141,863
Down payment$35,466
Rate6.50%
Term30 years
-Operating costs-$513
Property taxes-$177
Insurance-$175
Utilities$0
HOA$0
Management-$161
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,918(73.1% ROI)
Projected value
$190,964
Return breakdown
Property appreciation+$13,635
Loan principal paid down+$5,083
Rental cash flow+$7,200
5-year hold
+$44,366(125.1% ROI)
Projected value
$200,631
Return breakdown
Property appreciation+$23,302
Loan principal paid down+$9,064
Rental cash flow+$12,000
10-year hold
+$95,264(268.6% ROI)
Projected value
$226,996
Return breakdown
Property appreciation+$49,667
Loan principal paid down+$21,597
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.76
1 BR
0.89
2 BR
1.06
3 BR
0.93
4 BR
1.11
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 22655 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 22655 (Stephens City, VA) is $1,710 a month. That is down 2.8% from $1,760 in FY 2026. Stephens City 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, 22655 has the 2nd-highest two-bedroom rent (county range $1,420–$2,260). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 22655 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 22655
BedroomsFY 2027Change90–110% range
Studio$1,210−4.7%$1,089–$1,331
1BR$1,340−4.3%$1,206–$1,474
2BR$1,710−2.8%$1,539–$1,881
3BR$2,150−2.3%$1,935–$2,365
4BR$2,860−3.1%$2,574–$3,146

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 22655
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,340$1,710$2,150$2,860
FY 2026$1,270$1,400$1,760$2,200$2,950
FY 2025$1,210$1,390$1,740$2,160$2,920
FY 2024$1,060$1,190$1,500$1,870$2,530
FY 2023$960$1,050$1,340$1,690$2,220

Two-bedroom rent in nearby Frederick County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 22655
22601$1,670−2.3%
22602$1,590−7.0%
22603$1,630−4.7%
22624$1,420−17.0%
22625$1,470−14.0%
22630$1,430−16.4%
22637$1,470−14.0%
22645$1,420−17.0%
22654$1,450−15.2%
22655Current$1,710—
22656$2,260+32.2%
22663$1,520−11.1%

Questions about ZIP 22655 rents

How much will Section 8 pay for a two-bedroom in ZIP 22655?

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 $1,710 it would be $1,539 to $1,881. 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 22655 in?

ZIP 22655 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 22655 for FY 2027?

The two-bedroom FMR fell 2.8%, from $1,760 in FY 2026 to $1,710 in FY 2027. Since FY 2023 it has risen 27.6%.

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