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Lynchburg City/Lynchburg/24501

24501

ZIPSAFMR
Lynchburg City, VA
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$1,000$870
1 BR$1,010$960
2 BR$1,160$1,100
3 BR$1,610$1,450
4 BR$1,740$1,820
5 BR$2,001Not available
6 BR$2,301Not available
7 BR$2,646Not available
8 BR$3,043Not available

Purchase Price Calculator

Maximum purchase price
$101,543

Cost breakdown

+Likely effective rent$1,100
HUD FMR$1,160
Market rentUsed$1,100
Est. payment standard (97%)$1,120
-Principal and interest-$513
Loan amount$81,234
Down payment$20,309
Rate6.50%
Term30 years
-Operating costs-$387
Property taxes-$102
Insurance-$175
Utilities$0
HOA$0
Management-$110
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,918(88.2% ROI)
Projected value
$109,351
Return breakdown
Property appreciation+$7,808
Loan principal paid down+$2,910
Rental cash flow+$7,200
5-year hold
+$30,534(150.3% ROI)
Projected value
$114,887
Return breakdown
Property appreciation+$13,344
Loan principal paid down+$5,190
Rental cash flow+$12,000
10-year hold
+$64,808(319.1% ROI)
Projected value
$129,984
Return breakdown
Property appreciation+$28,441
Loan principal paid down+$12,367
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.05
2 BR
1.05
3 BR
1.11
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 24501 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24501 (Lynchburg, VA) is $1,160 a month. That is down 7.2% from $1,250 in FY 2026. Lynchburg is in the Lynchburg, VA MSA. 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 $1,117. Among 9 ZIP codes in Lynchburg City, 24501 has the 8th-highest two-bedroom rent (county range $1,070–$1,390). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24501 is 8% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24501
BedroomsFY 2027Change90–110% range
Studio$1,000−7.4%$900–$1,100
1BR$1,010−7.3%$909–$1,111
2BR$1,160−7.2%$1,044–$1,276
3BR$1,610−6.4%$1,449–$1,771
4BR$1,740−5.4%$1,566–$1,914

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24501
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,010$1,160$1,610$1,740
FY 2026$1,080$1,090$1,250$1,720$1,840
FY 2025$1,050$1,070$1,210$1,660$1,800
FY 2024$950$960$1,090$1,490$1,620
FY 2023$830$850$960$1,300$1,440

Two-bedroom rent in nearby Lynchburg City ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 24501
24501Current$1,160—
24502$1,390+19.8%
24503$1,070−7.8%
24504$1,180+1.7%
24505$1,180+1.7%
24506$1,180+1.7%
24513$1,180+1.7%
24515$1,390+19.8%
24551$1,270+9.5%

Questions about ZIP 24501 rents

How much will Section 8 pay for a two-bedroom in ZIP 24501?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,117, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,005 to $1,229 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 24501 in?

ZIP 24501 is in the Lynchburg, VA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,117.

How much did fair market rent change in ZIP 24501 for FY 2027?

The two-bedroom FMR fell 7.2%, from $1,250 in FY 2026 to $1,160 in FY 2027. Since FY 2023 it has risen 20.8%.

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