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Middlesex County/Wake/23176

23176

ZIPSAFMR
Middlesex County, VA
Zillow

ZIP Investment Score

58Below average

095130300
BRFMR
Eff. Rent
0 BR$1,090$1,090
1 BR$1,100$1,100
2 BR$1,340$1,340
3 BR$1,640$1,640
4 BR$2,100$2,100
5 BR$2,415Not available
6 BR$2,777Not available
7 BR$3,194Not available
8 BR$3,673Not available

Purchase Price Calculator

Maximum purchase price
$137,207

Cost breakdown

+Likely effective rent$1,340
HUD FMRUsed$1,340
Market rentN/A
Est. payment standardN/A
-Principal and interest-$694
Loan amount$109,766
Down payment$27,441
Rate6.50%
Term30 years
-Operating costs-$446
Property taxes-$137
Insurance-$175
Utilities$0
HOA$0
Management-$134
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,683(79.0% ROI)
Projected value
$147,757
Return breakdown
Property appreciation+$10,550
Loan principal paid down+$3,933
Rental cash flow+$7,200
5-year hold
+$37,043(135.0% ROI)
Projected value
$155,237
Return breakdown
Property appreciation+$18,030
Loan principal paid down+$7,013
Rental cash flow+$12,000
10-year hold
+$79,140(288.4% ROI)
Projected value
$175,637
Return breakdown
Property appreciation+$38,430
Loan principal paid down+$16,711
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 23176 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23176 (Wake, VA) is $1,340 a month. That is down 2.2% from $1,370 in FY 2026. Wake is in the Middlesex County, VA non-metropolitan 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 county-wide two-bedroom FMR of $1,259. Among 12 ZIP codes in Middlesex County, 23176 has the 5th-highest two-bedroom rent (county range $1,170–$1,490). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23176 is 6% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23176
BedroomsFY 2027Change90–110% range
Studio$1,090−2.7%$981–$1,199
1BR$1,100−1.8%$990–$1,210
2BR$1,340−2.2%$1,206–$1,474
3BR$1,640−2.4%$1,476–$1,804
4BR$2,100−3.2%$1,890–$2,310

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23176
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,090$1,100$1,340$1,640$2,100
FY 2026$1,120$1,120$1,370$1,680$2,170
FY 2025$980$990$1,220$1,490$1,900
FY 2024area FMR$909$915$1,202$1,453$1,844
FY 2023area FMR$777$796$1,048$1,275$1,577

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Middlesex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23176
22504$1,200−10.4%
23032$1,260−6.0%
23043$1,290−3.7%
23070$1,330−0.7%
23071$1,400+4.5%
23079$1,260−6.0%
23092$1,410+5.2%
23149$1,490+11.2%
23169$1,400+4.5%
23175$1,300−3.0%
23176Current$1,340—
23180$1,170−12.7%

Questions about ZIP 23176 rents

How much will Section 8 pay for a two-bedroom in ZIP 23176?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,259, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,133 to $1,385 a month; under the ZIP-level Small Area FMR of $1,340 it would be $1,206 to $1,474. 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 23176 in?

ZIP 23176 is in the Middlesex County, VA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,259.

How much did fair market rent change in ZIP 23176 for FY 2027?

The two-bedroom FMR fell 2.2%, from $1,370 in FY 2026 to $1,340 in FY 2027. Since FY 2025 it has risen 9.8%.

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