Skip to main content
Loading page
Lynchburg City/Lynchburg/24514

24514

ZIPFMR
Lynchburg City, VA
Zillow
Loading Investment Score

ZIP Investment Score

-- 

095130300
BRFMR
Eff. Rent
0 BR$965$820
1 BR$971$890
2 BR$1,117$1,200
3 BR$1,547$1,560
4 BR$1,678$1,830
5 BR$1,930Not available
6 BR$2,219Not available
7 BR$2,552Not available
8 BR$2,935Not available

Purchase Price Calculator

Maximum purchase price
$116,403

Cost breakdown

+Likely effective rent$1,200
HUD FMR$1,117
Market rent$1,250
Est. payment standard (108%)Used$1,200
-Principal and interest-$589
Loan amount$93,122
Down payment$23,281
Rate6.50%
Term30 years
-Operating costs-$411
Property taxes-$116
Insurance-$175
Utilities$0
HOA$0
Management-$120
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,487(83.7% ROI)
Projected value
$125,353
Return breakdown
Property appreciation+$8,950
Loan principal paid down+$3,336
Rental cash flow+$7,200
5-year hold
+$33,246(142.8% ROI)
Projected value
$131,699
Return breakdown
Property appreciation+$15,296
Loan principal paid down+$5,950
Rental cash flow+$12,000
10-year hold
+$70,780(304.0% ROI)
Projected value
$149,006
Return breakdown
Property appreciation+$32,603
Loan principal paid down+$14,177
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.18
1 BR
1.09
2 BR
0.89
3 BR
0.99
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 24514 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 24514 (Lynchburg, VA) is $1,117 a month. That is down 5.9% from $1,187 in FY 2026. Lynchburg is in the Lynchburg, VA MSA. The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24514 is 11% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24514
BedroomsFY 2027Change90–110% range
Studio$965−6.0%$869–$1,062
1BR$971−6.0%$874–$1,068
2BR$1,117−5.9%$1,005–$1,229
3BR$1,547−5.4%$1,392–$1,702
4BR$1,678−4.1%$1,510–$1,846

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24514
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$965$971$1,117$1,547$1,678
FY 2026$1,027$1,033$1,187$1,635$1,750
FY 2025$1,043$1,062$1,200$1,647$1,785
FY 2024$948$966$1,093$1,494$1,627
FY 2023$805$819$930$1,264$1,393

Questions about ZIP 24514 rents

How much will Section 8 pay for a two-bedroom in ZIP 24514?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,117, that basic range is $1,005 to $1,229 a month. 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 24514 in?

ZIP 24514 is in the Lynchburg, VA MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 24514 for FY 2027?

The two-bedroom FMR fell 5.9%, from $1,187 in FY 2026 to $1,117 in FY 2027. Since FY 2023 it has risen 20.1%.

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 Fair Market Rents. 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