Suffolk City/Suffolk/23436

23436

ZIPSAFMR

Suffolk City, VA

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ZIP Investment Score

85Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,780	$1,700	14.0%
1 BR	$1,800	$1,690	14.2%
2 BR	$2,020	$1,920	13.0%
3 BR	$2,790	$2,280	12.5%
4 BR	$3,290	$2,770	11.4%
5 BR	$3,783	Not available	11.4%
6 BR	$4,351	Not available	11.4%
7 BR	$5,004	Not available	11.4%
8 BR	$5,754	Not available	11.4%

Purchase Price Calculator

Maximum purchase price

$223,395

Cost breakdown

+Likely effective rent$1,920

HUD FMR$2,020

Market rentUsed$1,920

Est. payment standard (97%)$1,960

-Principal and interest-$1,130

Loan amount$178,716

Down payment$44,679

Rate6.50%

Term30 years

-Operating costs-$590

Property taxes-$223

Insurance-$175

Utilities$0

HOA$0

Management-$192

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$30,780(68.9% ROI)

Projected value

$240,572

Return breakdown

Property appreciation+$17,177

Loan principal paid down+$6,403

Rental cash flow+$7,200

5-year hold

+$52,774(118.1% ROI)

Projected value

$252,751

Return breakdown

Property appreciation+$29,356

Loan principal paid down+$11,418

Rental cash flow+$12,000

10-year hold

+$113,777(254.7% ROI)

Projected value

$285,964

Return breakdown

Property appreciation+$62,569

Loan principal paid down+$27,207

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.05ratio

FMR$1,780

Market$1,700

vs market+$80

FMR is near market; voucher and private rents are aligned.

1.05

1 BR

1.07ratio

FMR$1,800

Market$1,690

vs market+$110

FMR is near market; voucher and private rents are aligned.

1.07

2 BR

1.05ratio

FMR$2,020

Market$1,920

vs market+$100

FMR is near market; voucher and private rents are aligned.

1.05

3 BR

1.22ratio

FMR$2,790

Market$2,280

vs market+$510

FMR is above market; underwrite to market rent.

1.22

4 BR

1.19ratio

FMR$3,290

Market$2,770

vs market+$520

FMR is above market; underwrite to market rent.

1.19

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 23436 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23436 (Suffolk, VA) is $2,020 a month. That is down 5.6% from $2,140 in FY 2026. Suffolk 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 11 ZIP codes in Suffolk City, 23436 has the 2nd-highest two-bedroom rent (county range $1,290–$2,050). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23436 is 60% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23436
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,870	$1,780	−4.8%	$1,602–$1,958
1BR	$1,890	$1,800	−4.8%	$1,620–$1,980
2BR	$2,140	$2,020	−5.6%	$1,818–$2,222
3BR	$2,970	$2,790	−6.1%	$2,511–$3,069
4BR	$3,500	$3,290	−6.0%	$2,961–$3,619

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23436
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,780	$1,800	$2,020	$2,790	$3,290
FY 2026	$1,870	$1,890	$2,140	$2,970	$3,500
FY 2025	$1,410	$1,410	$1,610	$2,250	$2,670
FY 2024	$1,200	$1,210	$1,400	$1,960	$2,380
FY 2023	$1,070	$1,090	$1,270	$1,770	$2,160

Two-bedroom rent in nearby Suffolk City ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 23436
23321	$1,700	−15.8%
23430	$1,420	−29.7%
23432	$1,660	−17.8%
23433	$1,980	−2.0%
23434	$1,540	−23.8%
23435	$2,050	+1.5%
23436Current	$2,020	—
23437	$1,290	−36.1%
23438	$1,800	−10.9%
23439	$1,720	−14.9%
23487	$1,430	−29.2%

Questions about ZIP 23436 rents

How much will Section 8 pay for a two-bedroom in ZIP 23436?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,020, that basic range is $1,818 to $2,222 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 23436 in?

ZIP 23436 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 23436 for FY 2027?

The two-bedroom FMR fell 5.6%, from $2,140 in FY 2026 to $2,020 in FY 2027. Since FY 2023 it has risen 59.1%.

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 rent Suffolk, VA fair market rent VA statewide rents What is SAFMR?Data sources