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Isle of Wight County/Carrollton/23314

23314

ZIPSAFMR
Isle of Wight County, VA
Zillow

ZIP Investment Score

98Above average

095130300
BRFMR
Eff. Rent
0 BR$1,760$1,750
1 BR$1,780$1,710
2 BR$2,000$1,970
3 BR$2,760$2,170
4 BR$3,250$2,830
5 BR$3,737Not available
6 BR$4,298Not available
7 BR$4,943Not available
8 BR$5,684Not available

Purchase Price Calculator

Maximum purchase price
$230,825

Cost breakdown

+Likely effective rent$1,970
HUD FMR$2,000
Market rentUsed$1,970
Est. payment standard (99%)$1,980
-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
1.01
1 BR
1.04
2 BR
1.02
3 BR
1.27
4 BR
1.15
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 23314 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23314 (Carrollton, VA) is $2,000 a month. That is down 5.7% from $2,120 in FY 2026. Carrollton is in the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 10 ZIP codes in Isle of Wight County, 23314 has the highest two-bedroom rent (county range $1,060–$2,000). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23314 is 58% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23314
BedroomsFY 2027Change90–110% range
Studio$1,760−4.9%$1,584–$1,936
1BR$1,780−4.8%$1,602–$1,958
2BR$2,000−5.7%$1,800–$2,200
3BR$2,760−6.1%$2,484–$3,036
4BR$3,250−6.1%$2,925–$3,575

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23314
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,760$1,780$2,000$2,760$3,250
FY 2026$1,850$1,870$2,120$2,940$3,460
FY 2025$1,820$1,830$2,090$2,910$3,460
FY 2024$1,510$1,520$1,760$2,450$2,990
FY 2023$1,230$1,250$1,460$2,040$2,490

Two-bedroom rent in nearby Isle of Wight County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23314
23304$1,620−19.0%
23314Current$2,000—
23315$1,360−32.0%
23430$1,420−29.0%
23431$1,590−20.5%
23432$1,660−17.0%
23487$1,430−28.5%
23851$1,110−44.5%
23866$1,370−31.5%
23898$1,060−47.0%

Questions about ZIP 23314 rents

How much will Section 8 pay for a two-bedroom in ZIP 23314?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,000, that basic range is $1,800 to $2,200 a month. 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 23314 in?

ZIP 23314 is in the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 23314 for FY 2027?

The two-bedroom FMR fell 5.7%, from $2,120 in FY 2026 to $2,000 in FY 2027. Since FY 2023 it has risen 37.0%.

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