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Henrico County/Glen Allen/23059

23059

ZIPSAFMR
Henrico County, VA
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,910$1,770
1 BR$1,990$1,620
2 BR$2,170$2,270
3 BR$2,680$2,390
4 BR$3,280$2,820
5 BR$3,772Not available
6 BR$4,338Not available
7 BR$4,988Not available
8 BR$5,737Not available

Purchase Price Calculator

Maximum purchase price
$275,405

Cost breakdown

+Likely effective rent$2,270
HUD FMR$2,170
Market rent$2,330
Est. payment standard (105%)Used$2,270
-Principal and interest-$1,393
Loan amount$220,324
Down payment$55,081
Rate6.50%
Term30 years
-Operating costs-$677
Property taxes-$275
Insurance-$175
Utilities$0
HOA$0
Management-$227
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$36,270(65.8% ROI)
Projected value
$296,581
Return breakdown
Property appreciation+$21,176
Loan principal paid down+$7,894
Rental cash flow+$7,200
5-year hold
+$62,267(113.0% ROI)
Projected value
$311,595
Return breakdown
Property appreciation+$36,190
Loan principal paid down+$14,077
Rental cash flow+$12,000
10-year hold
+$134,678(244.5% ROI)
Projected value
$352,541
Return breakdown
Property appreciation+$77,137
Loan principal paid down+$33,542
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.08
1 BR
1.23
2 BR
0.93
3 BR
1.12
4 BR
1.16
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 23059 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23059 (Glen Allen, VA) is $2,170 a month. That is down 1.4% from $2,200 in FY 2026. Glen Allen 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 22 ZIP codes in Henrico County, 23059 has the 2nd-highest two-bedroom rent (county range $1,490–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23059 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23059
BedroomsFY 2027Change90–110% range
Studio$1,910−0.5%$1,719–$2,101
1BR$1,990−0.5%$1,791–$2,189
2BR$2,170−1.4%$1,953–$2,387
3BR$2,680−2.5%$2,412–$2,948
4BR$3,280−3.2%$2,952–$3,608

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23059
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,910$1,990$2,170$2,680$3,280
FY 2026$1,920$2,000$2,200$2,750$3,390
FY 2025$2,000$2,080$2,300$2,910$3,600
FY 2024$1,790$1,830$2,060$2,630$3,220
FY 2023$1,540$1,580$1,780$2,300$2,800

Two-bedroom rent in nearby Henrico County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23059
23030$1,490−31.3%
23058$1,730−20.3%
23059Current$2,170—
23060$1,960−9.7%
23075$1,490−31.3%
23116$2,280+5.1%
23150$1,490−31.3%
23173$1,790−17.5%
23222$1,490−31.3%
23223$1,550−28.6%
23226$2,040−6.0%
23227$1,540−29.0%

Questions about ZIP 23059 rents

How much will Section 8 pay for a two-bedroom in ZIP 23059?

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 $2,170 it would be $1,953 to $2,387. 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 23059 in?

ZIP 23059 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 23059 for FY 2027?

The two-bedroom FMR fell 1.4%, from $2,200 in FY 2026 to $2,170 in FY 2027. Since FY 2023 it has risen 21.9%.

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