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Roanoke City/Roanoke/24013

24013

ZIPSAFMR
Roanoke City, VA
Zillow

ZIP Investment Score

128Above average

095130300
BRFMR
Eff. Rent
0 BR$1,200$950
1 BR$1,260$1,110
2 BR$1,480$1,290
3 BR$2,040$1,530
4 BR$2,470$1,720
5 BR$2,841Not available
6 BR$3,267Not available
7 BR$3,757Not available
8 BR$4,320Not available

Purchase Price Calculator

Maximum purchase price
$129,777

Cost breakdown

+Likely effective rent$1,290
HUD FMR$1,480
Market rentUsed$1,290
Est. payment standard (92%)$1,360
-Principal and interest-$656
Loan amount$103,822
Down payment$25,955
Rate6.50%
Term30 years
-Operating costs-$434
Property taxes-$130
Insurance-$175
Utilities$0
HOA$0
Management-$129
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,898(80.5% ROI)
Projected value
$139,756
Return breakdown
Property appreciation+$9,979
Loan principal paid down+$3,720
Rental cash flow+$7,200
5-year hold
+$35,687(137.5% ROI)
Projected value
$146,831
Return breakdown
Property appreciation+$17,054
Loan principal paid down+$6,633
Rental cash flow+$12,000
10-year hold
+$76,154(293.4% ROI)
Projected value
$166,126
Return breakdown
Property appreciation+$36,349
Loan principal paid down+$15,806
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.26
1 BR
1.14
2 BR
1.15
3 BR
1.33
4 BR
1.44
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 24013 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24013 (Roanoke, VA) is $1,480 a month. That is up 18.4% from $1,250 in FY 2026. Roanoke is in the Roanoke, 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 $1,464. Among 37 ZIP codes in Roanoke City, 24013 is tied for the 3rd-highest two-bedroom rent (county range $1,220–$1,730). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24013 is 17% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24013
BedroomsFY 2027Change90–110% range
Studio$1,200+20.0%$1,080–$1,320
1BR$1,260+20.0%$1,134–$1,386
2BR$1,480+18.4%$1,332–$1,628
3BR$2,040+17.2%$1,836–$2,244
4BR$2,470+17.6%$2,223–$2,717

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24013
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,200$1,260$1,480$2,040$2,470
FY 2026$1,000$1,050$1,250$1,740$2,100
FY 2025$880$940$1,130$1,580$1,870
FY 2024$800$880$1,070$1,490$1,730
FY 2023$710$790$970$1,330$1,500

Two-bedroom rent in nearby Roanoke City ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 24013
24007$1,390−6.1%
24008$1,390−6.1%
24009$1,390−6.1%
24010$1,390−6.1%
24011$1,4800.0%
24012$1,4800.0%
24013Current$1,480—
24014$1,350−8.8%
24015$1,220−17.6%
24016$1,380−6.8%
24017$1,460−1.4%
24018$1,700+14.9%

Questions about ZIP 24013 rents

How much will Section 8 pay for a two-bedroom in ZIP 24013?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,464, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,318 to $1,610 a month; under the ZIP-level Small Area FMR of $1,480 it would be $1,332 to $1,628. 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 24013 in?

ZIP 24013 is in the Roanoke, VA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,464.

How much did fair market rent change in ZIP 24013 for FY 2027?

The two-bedroom FMR rose 18.4%, from $1,250 in FY 2026 to $1,480 in FY 2027. Since FY 2023 it has risen 52.6%.

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