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Henry County/Bassett/24055

24055

ZIPSAFMR
Henry County, VA
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$770$610
1 BR$780$810
2 BR$940$1,010
3 BR$1,190$1,110
4 BR$1,430$1,170
5 BR$1,644Not available
6 BR$1,891Not available
7 BR$2,175Not available
8 BR$2,501Not available

Purchase Price Calculator

Maximum purchase price
$88,169

Cost breakdown

+Likely effective rent$1,010
HUD FMR$940
Market rent$1,050
Est. payment standard (108%)Used$1,010
-Principal and interest-$446
Loan amount$70,535
Down payment$17,634
Rate6.50%
Term30 years
-Operating costs-$364
Property taxes-$88
Insurance-$175
Utilities$0
HOA$0
Management-$101
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,506(93.6% ROI)
Projected value
$94,948
Return breakdown
Property appreciation+$6,779
Loan principal paid down+$2,527
Rental cash flow+$7,200
5-year hold
+$28,093(159.3% ROI)
Projected value
$99,755
Return breakdown
Property appreciation+$11,586
Loan principal paid down+$4,507
Rental cash flow+$12,000
10-year hold
+$59,433(337.0% ROI)
Projected value
$112,864
Return breakdown
Property appreciation+$24,695
Loan principal paid down+$10,738
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.26
1 BR
0.94
2 BR
0.90
3 BR
1.07
4 BR
1.22
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 24055 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24055 (Bassett, VA) is $940 a month. That is up 3.3% from $910 in FY 2026. Bassett is in the Henry County-Martinsville 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 $943. Among 11 ZIP codes in Henry County, 24055 is tied for the 8th-highest two-bedroom rent (county range $940–$1,210). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24055 is 26% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24055
BedroomsFY 2027Change90–110% range
Studio$770+2.7%$693–$847
1BR$780+2.6%$702–$858
2BR$940+3.3%$846–$1,034
3BR$1,190+7.2%$1,071–$1,309
4BR$1,430+8.3%$1,287–$1,573

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24055
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$770$780$940$1,190$1,430
FY 2026$750$760$910$1,110$1,320
FY 2025$680$700$850$1,060$1,250
FY 2024$690$770$910$1,170$1,330
FY 2023$590$600$790$970$1,080

Two-bedroom rent in nearby Henry County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 24055
24054$1,080+14.9%
24055Current$940—
24078$9400.0%
24089$1,040+10.6%
24102$950+1.1%
24112$980+4.3%
24133$9400.0%
24148$9400.0%
24165$1,210+28.7%
24168$960+2.1%
24530$1,010+7.4%

Questions about ZIP 24055 rents

How much will Section 8 pay for a two-bedroom in ZIP 24055?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $943, which applies unless the housing authority uses Small Area FMRs, that basic range is $849 to $1,037 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 24055 in?

ZIP 24055 is in the Henry County-Martinsville city, VA HUD Nonmetro FMR Area non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $943.

How much did fair market rent change in ZIP 24055 for FY 2027?

The two-bedroom FMR rose 3.3%, from $910 in FY 2026 to $940 in FY 2027. Since FY 2023 it has risen 19.0%.

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