Henry County/Martinsville/24112

24112

ZIPSAFMR

Henry County, VA

View on ZillowZillow

ZIP Investment Score

92Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$800	$860	5.1%
1 BR	$800	$870	1.3%
2 BR	$980	$940	2.5%
3 BR	$1,190	$1,210	0.6%
4 BR	$1,430	$1,480	2.4%
5 BR	$1,644	Not available	2.4%
6 BR	$1,891	Not available	2.4%
7 BR	$2,175	Not available	2.4%
8 BR	$2,501	Not available	2.4%

Purchase Price Calculator

Maximum purchase price

$77,767

Cost breakdown

+Likely effective rent$940

HUD FMR$980

Market rentUsed$940

Est. payment standard (97%)$950

-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

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

+$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

Rolodex

Market Alignment

Studio

0.90ratio

FMR$800

Market$890

vs market-$90

FMR is below market; voucher rent may lag private rents.

0.90

1 BR

0.88ratio

FMR$800

Market$910

vs market-$110

FMR is below market; voucher rent may lag private rents.

0.88

2 BR

1.04ratio

FMR$980

Market$940

vs market+$40

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

1.04

3 BR

0.98ratio

FMR$1,190

Market$1,220

vs market-$30

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

0.98

4 BR

0.95ratio

FMR$1,430

Market$1,510

vs market-$80

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

0.95

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 24112 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24112 (Martinsville, VA) is $980 a month. That is up 3.2% from $950 in FY 2026. Martinsville 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, 24112 has the 5th-highest two-bedroom rent (county range $940–$1,210). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24112 is 22% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24112
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$780	$800	+2.6%	$720–$880
1BR	$780	$800	+2.6%	$720–$880
2BR	$950	$980	+3.2%	$882–$1,078
3BR	$1,140	$1,190	+4.4%	$1,071–$1,309
4BR	$1,340	$1,430	+6.7%	$1,287–$1,573

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24112
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$800	$800	$980	$1,190	$1,430
FY 2026	$780	$780	$950	$1,140	$1,340
FY 2025	$700	$700	$880	$1,060	$1,260
FY 2024	$690	$770	$910	$1,170	$1,330
FY 2023	$610	$620	$810	$990	$1,110

Two-bedroom rent in nearby Henry County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 24112
24054	$1,080	+10.2%
24055	$940	−4.1%
24078	$940	−4.1%
24089	$1,040	+6.1%
24102	$950	−3.1%
24112Current	$980	—
24133	$940	−4.1%
24148	$940	−4.1%
24165	$1,210	+23.5%
24168	$960	−2.0%
24530	$1,010	+3.1%

Questions about ZIP 24112 rents

How much will Section 8 pay for a two-bedroom in ZIP 24112?

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 $980 it would be $882 to $1,078. 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 24112 in?

ZIP 24112 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 24112 for FY 2027?

The two-bedroom FMR rose 3.2%, from $950 in FY 2026 to $980 in FY 2027. Since FY 2023 it has risen 21.0%.

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