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Pittsylvania County/Danville/24540

24540

ZIPSAFMR
Pittsylvania County, VA
Zillow

ZIP Investment Score

121Above average

095130300
BRFMR
Eff. Rent
0 BR$660$730
1 BR$760$840
2 BR$940$980
3 BR$1,290$1,420
4 BR$1,430$1,520
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
$83,711

Cost breakdown

+Likely effective rent$980
HUD FMR$940
Market rent$1,000
Est. payment standard (104%)Used$980
-Principal and interest-$423
Loan amount$66,969
Down payment$16,742
Rate6.50%
Term30 years
-Operating costs-$357
Property taxes-$84
Insurance-$175
Utilities$0
HOA$0
Management-$98
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,036(95.8% ROI)
Projected value
$90,148
Return breakdown
Property appreciation+$6,437
Loan principal paid down+$2,399
Rental cash flow+$7,200
5-year hold
+$27,279(162.9% ROI)
Projected value
$94,711
Return breakdown
Property appreciation+$11,000
Loan principal paid down+$4,279
Rental cash flow+$12,000
10-year hold
+$57,641(344.3% ROI)
Projected value
$107,157
Return breakdown
Property appreciation+$23,446
Loan principal paid down+$10,195
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.79
1 BR
0.85
2 BR
0.94
3 BR
0.87
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 24540 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24540 (Danville, VA) is $940 a month. That is up 3.3% from $910 in FY 2026. Danville is in the Pittsylvania County-Danville 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 21 ZIP codes in Pittsylvania County, 24540 is tied for the 16th-highest two-bedroom rent (county range $940–$1,240). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24540 is 26% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 24540
BedroomsFY 2027Change90–110% range
Studio$660+4.8%$594–$726
1BR$760+2.7%$684–$836
2BR$940+3.3%$846–$1,034
3BR$1,290+1.6%$1,161–$1,419
4BR$1,4300.0%$1,287–$1,573

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 24540
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$660$760$940$1,290$1,430
FY 2026$630$740$910$1,270$1,430
FY 2025$580$690$850$1,160$1,310
FY 2024area FMR$613$719$905$1,228$1,353
FY 2023area FMR$530$625$793$1,060$1,179

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Pittsylvania County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 24540
24527$1,030+9.6%
24530$1,010+7.4%
24531$9400.0%
24540Current$940—
24541$1,010+7.4%
24549$1,090+16.0%
24557$9400.0%
24563$9400.0%
24565$950+1.1%
24566$1,240+31.9%
24569$1,070+13.8%
24577$990+5.3%

Questions about ZIP 24540 rents

How much will Section 8 pay for a two-bedroom in ZIP 24540?

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 24540 in?

ZIP 24540 is in the Pittsylvania County-Danville 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 24540 for FY 2027?

The two-bedroom FMR rose 3.3%, from $910 in FY 2026 to $940 in FY 2027. Since FY 2025 it has risen 10.6%.

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