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Henrico County/Henrico/23233

23233

ZIPSAFMR
Henrico County, VA
Zillow

ZIP Investment Score

90Below average

095130300
BRFMR
Eff. Rent
0 BR$1,810$1,610
1 BR$1,880$1,620
2 BR$2,050$1,970
3 BR$2,530$2,250
4 BR$3,100$2,750
5 BR$3,565Not available
6 BR$4,100Not available
7 BR$4,715Not available
8 BR$5,422Not available

Purchase Price Calculator

Maximum purchase price
$230,825

Cost breakdown

+Likely effective rent$1,970
HUD FMR$2,050
Market rentUsed$1,970
Est. payment standard (97%)$2,000
-Principal and interest-$1,167
Loan amount$184,660
Down payment$46,165
Rate6.50%
Term30 years
-Operating costs-$603
Property taxes-$231
Insurance-$175
Utilities$0
HOA$0
Management-$197
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,564(68.4% ROI)
Projected value
$248,573
Return breakdown
Property appreciation+$17,748
Loan principal paid down+$6,616
Rental cash flow+$7,200
5-year hold
+$54,130(117.3% ROI)
Projected value
$261,157
Return breakdown
Property appreciation+$30,332
Loan principal paid down+$11,798
Rental cash flow+$12,000
10-year hold
+$116,763(252.9% ROI)
Projected value
$295,475
Return breakdown
Property appreciation+$64,650
Loan principal paid down+$28,112
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.12
1 BR
1.16
2 BR
1.04
3 BR
1.12
4 BR
1.13
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 23233 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23233 (Henrico, VA) is $2,050 a month. That is up 1.0% from $2,030 in FY 2026. Henrico 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, 23233 has the 3rd-highest two-bedroom rent (county range $1,490–$2,280). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23233 is 62% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23233
BedroomsFY 2027Change90–110% range
Studio$1,810+2.3%$1,629–$1,991
1BR$1,880+1.6%$1,692–$2,068
2BR$2,050+1.0%$1,845–$2,255
3BR$2,530−0.4%$2,277–$2,783
4BR$3,100−1.0%$2,790–$3,410

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23233
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,810$1,880$2,050$2,530$3,100
FY 2026$1,770$1,850$2,030$2,540$3,130
FY 2025$1,810$1,880$2,080$2,630$3,250
FY 2024$1,600$1,640$1,840$2,350$2,870
FY 2023$1,390$1,430$1,610$2,080$2,530

Two-bedroom rent in nearby Henrico County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23233
23222$1,490−27.3%
23223$1,550−24.4%
23226$2,040−0.5%
23227$1,540−24.9%
23228$1,810−11.7%
23229$1,650−19.5%
23230$1,840−10.2%
23231$1,520−25.9%
23233Current$2,050—
23238$1,930−5.9%
23242$1,730−15.6%
23250$1,730−15.6%

Questions about ZIP 23233 rents

How much will Section 8 pay for a two-bedroom in ZIP 23233?

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 $2,050 it would be $1,845 to $2,255. 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 23233 in?

ZIP 23233 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 23233 for FY 2027?

The two-bedroom FMR rose 1.0%, from $2,030 in FY 2026 to $2,050 in FY 2027. Since FY 2023 it has risen 27.3%.

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