Skip to main content
Loading page
Hanover County/Ashland/23005

23005

ZIPSAFMR
Hanover County, VA
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,300$1,430
1 BR$1,360$1,500
2 BR$1,490$1,640
3 BR$1,870$2,060
4 BR$2,300$2,410
5 BR$2,645Not available
6 BR$3,042Not available
7 BR$3,498Not available
8 BR$4,023Not available

Purchase Price Calculator

Maximum purchase price
$181,787

Cost breakdown

+Likely effective rent$1,640
HUD FMR$1,490
Market rent$1,960
Est. payment standard (110%)Used$1,640
-Principal and interest-$919
Loan amount$145,429
Down payment$36,357
Rate6.50%
Term30 years
-Operating costs-$521
Property taxes-$182
Insurance-$175
Utilities$0
HOA$0
Management-$164
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,388(72.6% ROI)
Projected value
$195,765
Return breakdown
Property appreciation+$13,978
Loan principal paid down+$5,210
Rental cash flow+$7,200
5-year hold
+$45,180(124.3% ROI)
Projected value
$205,675
Return breakdown
Property appreciation+$23,888
Loan principal paid down+$9,292
Rental cash flow+$12,000
10-year hold
+$97,056(266.9% ROI)
Projected value
$232,703
Return breakdown
Property appreciation+$50,916
Loan principal paid down+$22,140
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.75
1 BR
0.79
2 BR
0.76
3 BR
0.80
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 23005 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23005 (Ashland, VA) is $1,490 a month. That is down 3.2% from $1,540 in FY 2026. Ashland is in the Richmond, VA HUD Metro 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 metro-wide two-bedroom FMR of $1,651. Among 15 ZIP codes in Hanover County, 23005 is tied for the 11th-highest two-bedroom rent (county range $1,260–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23005 is 18% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23005
BedroomsFY 2027Change90–110% range
Studio$1,300−3.0%$1,170–$1,430
1BR$1,360−2.9%$1,224–$1,496
2BR$1,490−3.2%$1,341–$1,639
3BR$1,870−4.1%$1,683–$2,057
4BR$2,300−4.6%$2,070–$2,530

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23005
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,300$1,360$1,490$1,870$2,300
FY 2026$1,340$1,400$1,540$1,950$2,410
FY 2025$1,370$1,430$1,580$2,000$2,470
FY 2024$1,240$1,270$1,430$1,830$2,230
FY 2023$1,110$1,130$1,280$1,650$2,010

Two-bedroom rent in nearby Hanover County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23005
23005Current$1,490—
23015$1,400−6.0%
23024$1,260−15.4%
23047$1,4900.0%
23059$2,170+45.6%
23069$1,650+10.7%
23102$1,630+9.4%
23111$1,810+21.5%
23116$2,280+53.0%
23124$1,720+15.4%
23129$1,540+3.4%
23146$1,960+31.5%

Questions about ZIP 23005 rents

How much will Section 8 pay for a two-bedroom in ZIP 23005?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,651, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,486 to $1,816 a month; under the ZIP-level Small Area FMR of $1,490 it would be $1,341 to $1,639. 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 23005 in?

ZIP 23005 is in the Richmond, VA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,651.

How much did fair market rent change in ZIP 23005 for FY 2027?

The two-bedroom FMR fell 3.2%, from $1,540 in FY 2026 to $1,490 in FY 2027. Since FY 2023 it has risen 16.4%.

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