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Greensville County/Freeman/23856

23856

ZIPSAFMR
Greensville County, VA
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$770$770
1 BR$780$780
2 BR$940$940
3 BR$1,310$1,310
4 BR$1,520$1,520
5 BR$1,748Not available
6 BR$2,010Not available
7 BR$2,312Not available
8 BR$2,658Not available

Purchase Price Calculator

Maximum purchase price
$77,767

Cost breakdown

+Likely effective rent$940
HUD FMRUsed$940
Market rentN/A
Est. payment standardN/A
-Principal and interest-$393
Loan amount$62,214
Down payment$15,553
Rate6.50%
Term30 years
-Operating costs-$347
Property taxes-$78
Insurance-$175
Utilities$0
HOA$0
Management-$94
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,409(99.1% ROI)
Projected value
$83,747
Return breakdown
Property appreciation+$5,980
Loan principal paid down+$2,229
Rental cash flow+$7,200
5-year hold
+$26,194(168.4% ROI)
Projected value
$87,986
Return breakdown
Property appreciation+$10,219
Loan principal paid down+$3,975
Rental cash flow+$12,000
10-year hold
+$55,253(355.2% ROI)
Projected value
$99,548
Return breakdown
Property appreciation+$21,781
Loan principal paid down+$9,471
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 23856 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 23856 (Freeman, VA) is $940 a month. That is up 3.3% from $910 in FY 2026. Freeman is in the Greensville County-Emporia city, VA HUD Nonmetro FMR Area 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 $1,018. Among 6 ZIP codes in Greensville County, 23856 has the 6th-highest two-bedroom rent (county range $940–$1,060). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 23856 is 26% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 23856
BedroomsFY 2027Change90–110% range
Studio$770+4.1%$693–$847
1BR$780+4.0%$702–$858
2BR$940+3.3%$846–$1,034
3BR$1,310+2.3%$1,179–$1,441
4BR$1,520+8.6%$1,368–$1,672

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 23856
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$770$780$940$1,310$1,520
FY 2026$740$750$910$1,280$1,400
FY 2025$680$690$880$1,190$1,340
FY 2024area FMR$732$737$968$1,307$1,438
FY 2023area FMR$623$638$840$1,124$1,128

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

Two-bedroom rent in nearby Greensville County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 23856
23847$1,000+6.4%
23856Current$940—
23867$1,050+11.7%
23870$980+4.3%
23879$1,060+12.8%
23887$1,060+12.8%

Questions about ZIP 23856 rents

How much will Section 8 pay for a two-bedroom in ZIP 23856?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,018, which applies unless the housing authority uses Small Area FMRs, that basic range is $916 to $1,120 a month; under the ZIP-level Small Area FMR of $940 it would be $846 to $1,034. 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 23856 in?

ZIP 23856 is in the Greensville County-Emporia city, VA HUD Nonmetro FMR Area non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,018.

How much did fair market rent change in ZIP 23856 for FY 2027?

The two-bedroom FMR rose 3.3%, from $910 in FY 2026 to $940 in FY 2027. Since FY 2025 it has risen 6.8%.

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