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Chesapeake City/Chesapeake/23325

23325

ZIPSAFMR
Chesapeake City, VA
Zillow

ZIP Investment Score

131High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,460$1,380
1 BR$1,480$1,450
2 BR$1,660$1,640
3 BR$2,290$2,120
4 BR$2,700$2,540
5 BR$3,105Not available
6 BR$3,571Not available
7 BR$4,106Not available
8 BR$4,722Not available

Purchase Price Calculator

Maximum purchase price
$181,787

Cost breakdown

+Likely effective rent$1,640
HUD FMR$1,660
Market rentUsed$1,640
Est. payment standard (99%)$1,650
-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

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Rolodex

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Market Alignment

Studio
1.06
1 BR
1.02
2 BR
1.01
3 BR
1.08
4 BR
1.06
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 23325 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23325 (Chesapeake, VA) is $1,660 a month. That is down 5.1% from $1,750 in FY 2026. Chesapeake 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 13 ZIP codes in Chesapeake City, 23325 has the 10th-highest two-bedroom rent (county range $1,420–$2,120). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23325 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23325
BedroomsFY 2027Change90–110% range
Studio$1,460−3.9%$1,314–$1,606
1BR$1,480−4.5%$1,332–$1,628
2BR$1,660−5.1%$1,494–$1,826
3BR$2,290−5.8%$2,061–$2,519
4BR$2,700−5.6%$2,430–$2,970

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23325
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,460$1,480$1,660$2,290$2,700
FY 2026$1,520$1,550$1,750$2,430$2,860
FY 2025$1,530$1,540$1,760$2,450$2,910
FY 2024$1,330$1,340$1,550$2,160$2,630
FY 2023$1,130$1,150$1,340$1,870$2,280

Two-bedroom rent in nearby Chesapeake City ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23325
23320$2,100+26.5%
23321$1,700+2.4%
23322$2,120+27.7%
23323$1,930+16.3%
23324$1,420−14.5%
23325Current$1,660—
23326$1,790+7.8%
23327$1,790+7.8%
23328$1,790+7.8%
23435$2,050+23.5%
23464$1,930+16.3%
23702$1,430−13.9%

Questions about ZIP 23325 rents

How much will Section 8 pay for a two-bedroom in ZIP 23325?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,660, that basic range is $1,494 to $1,826 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 23325 in?

ZIP 23325 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 23325 for FY 2027?

The two-bedroom FMR fell 5.1%, from $1,750 in FY 2026 to $1,660 in FY 2027. Since FY 2023 it has risen 23.9%.

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