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Botetourt County/Troutville/24175

24175

ZIPSAFMR
Botetourt County, VA
Zillow

ZIP Investment Score

78Below average

095130300
BRFMR
Eff. Rent
0 BR$1,130$1,240
1 BR$1,190$1,310
2 BR$1,390$1,530
3 BR$1,920$2,110
4 BR$2,320$2,410
5 BR$2,668Not available
6 BR$3,068Not available
7 BR$3,528Not available
8 BR$4,058Not available

Purchase Price Calculator

Maximum purchase price
$165,441

Cost breakdown

+Likely effective rent$1,530
HUD FMR$1,390
Market rent$2,000
Est. payment standard (110%)Used$1,530
-Principal and interest-$837
Loan amount$132,353
Down payment$33,088
Rate6.50%
Term30 years
-Operating costs-$493
Property taxes-$165
Insurance-$175
Utilities$0
HOA$0
Management-$153
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,663(74.5% ROI)
Projected value
$178,162
Return breakdown
Property appreciation+$12,721
Loan principal paid down+$4,742
Rental cash flow+$7,200
5-year hold
+$42,196(127.5% ROI)
Projected value
$187,181
Return breakdown
Property appreciation+$21,740
Loan principal paid down+$8,456
Rental cash flow+$12,000
10-year hold
+$90,487(273.5% ROI)
Projected value
$211,778
Return breakdown
Property appreciation+$46,337
Loan principal paid down+$20,149
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.57
1 BR
0.61
2 BR
0.69
3 BR
0.86
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 24175 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24175 (Troutville, VA) is $1,390 a month. That is up 18.8% from $1,170 in FY 2026. Troutville 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 14 ZIP codes in Botetourt County, 24175 has the 7th-highest two-bedroom rent (county range $1,130–$2,200). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24175 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24175
BedroomsFY 2027Change90–110% range
Studio$1,130+20.2%$1,017–$1,243
1BR$1,190+21.4%$1,071–$1,309
2BR$1,390+18.8%$1,251–$1,529
3BR$1,920+17.8%$1,728–$2,112
4BR$2,320+18.4%$2,088–$2,552

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24175
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,130$1,190$1,390$1,920$2,320
FY 2026$940$980$1,170$1,630$1,960
FY 2025$880$940$1,130$1,580$1,870
FY 2024$780$850$1,040$1,450$1,680
FY 2023$690$760$940$1,290$1,460

Two-bedroom rent in nearby Botetourt County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 24175
24012$1,480+6.5%
24019$1,730+24.5%
24064$1,480+6.5%
24066$1,660+19.4%
24077$1,680+20.9%
24083$2,200+58.3%
24085$1,170−15.8%
24090$1,320−5.0%
24130$1,380−0.7%
24175Current$1,390—
24422$1,130−18.7%
24438$1,380−0.7%

Questions about ZIP 24175 rents

How much will Section 8 pay for a two-bedroom in ZIP 24175?

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 $1,390 it would be $1,251 to $1,529. 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 24175 in?

ZIP 24175 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 24175 for FY 2027?

The two-bedroom FMR rose 18.8%, from $1,170 in FY 2026 to $1,390 in FY 2027. Since FY 2023 it has risen 47.9%.

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