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Rockingham County/Broadway/22815

22815

ZIPSAFMR
Rockingham County, VA
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$950$1,050
1 BR$960$1,060
2 BR$1,190$1,310
3 BR$1,630$1,740
4 BR$1,920$1,950
5 BR$2,208Not available
6 BR$2,539Not available
7 BR$2,920Not available
8 BR$3,358Not available

Purchase Price Calculator

Maximum purchase price
$132,749

Cost breakdown

+Likely effective rent$1,310
HUD FMR$1,190
Market rent$1,620
Est. payment standard (110%)Used$1,310
-Principal and interest-$671
Loan amount$106,199
Down payment$26,550
Rate6.50%
Term30 years
-Operating costs-$439
Property taxes-$133
Insurance-$175
Utilities$0
HOA$0
Management-$131
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,212(79.9% ROI)
Projected value
$142,956
Return breakdown
Property appreciation+$10,207
Loan principal paid down+$3,805
Rental cash flow+$7,200
5-year hold
+$36,229(136.5% ROI)
Projected value
$150,193
Return breakdown
Property appreciation+$17,444
Loan principal paid down+$6,785
Rental cash flow+$12,000
10-year hold
+$77,349(291.3% ROI)
Projected value
$169,930
Return breakdown
Property appreciation+$37,181
Loan principal paid down+$16,168
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.75
1 BR
0.73
2 BR
0.73
3 BR
0.91
4 BR
0.97
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 22815 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 22815 (Broadway, VA) is $1,190 a month. That is down 5.6% from $1,260 in FY 2026. Broadway is in the Harrisonburg, VA 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 $1,264. Among 24 ZIP codes in Rockingham County, 22815 is tied for the 13th-highest two-bedroom rent (county range $1,190–$1,710). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 22815 is 6% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 22815
BedroomsFY 2027Change90–110% range
Studio$950−3.1%$855–$1,045
1BR$960−2.0%$864–$1,056
2BR$1,190−5.6%$1,071–$1,309
3BR$1,630−4.1%$1,467–$1,793
4BR$1,920−8.1%$1,728–$2,112

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 22815
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$960$1,190$1,630$1,920
FY 2026$980$980$1,260$1,700$2,090
FY 2025$900$910$1,160$1,570$1,920
FY 2024$790$790$1,030$1,390$1,750
FY 2023$690$690$910$1,210$1,550

Two-bedroom rent in nearby Rockingham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 22815
22801$1,460+22.7%
22802$1,230+3.4%
22811$1,1900.0%
22812$1,290+8.4%
22815Current$1,190—
22820$1,1900.0%
22821$1,1900.0%
22827$1,1900.0%
22830$1,1900.0%
22831$1,1900.0%
22832$1,380+16.0%
22833$1,230+3.4%

Questions about ZIP 22815 rents

How much will Section 8 pay for a two-bedroom in ZIP 22815?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,264, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,138 to $1,390 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. 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 22815 in?

ZIP 22815 is in the Harrisonburg, VA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,264.

How much did fair market rent change in ZIP 22815 for FY 2027?

The two-bedroom FMR fell 5.6%, from $1,260 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 30.8%.

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