Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,100 |
| 1 Bedroom | $2,190 |
| 2 Bedrooms | $2,420 |
| 3 Bedrooms | $3,080 |
| 4 Bedrooms | $3,630 |
| 5 Bedrooms | $4,211 |
| 6 Bedrooms | $4,716 |
| 7 Bedrooms | $5,093 |
| 8 Bedrooms | $5,348 |
U.S. Census Bureau data (2024)
In Manassas, Virginia, the median home value stands at $520,287, reflecting a robust real estate market. The Fair Market Rent (FMR) for zip code 20111 in fiscal year 2024 is set at $1960, which is notably lower than the Zillow Observed Rental Index (ZORI) of $2,158. This indicates that landlords can expect higher rents compared to the government's benchmark for subsidized housing.
The area has a 32.8% share of renters, suggesting a significant portion of the population relies on rental properties. With a median income of $113,879, residents have the financial capacity to cover higher rents, making the market attractive for investors. However, the average Days on Market (DOM) for homes is 18, indicating a relatively quick turnover for sales, but it does not directly correlate to rental vacancy rates.
The 0.2% price-cut share suggests that property values in Manassas are generally stable, with little need for sellers to reduce their asking prices. For landlords and small-portfolio investors, this stability is crucial for maintaining steady cash flows and long-term investment value.
Given these metrics, the verdict on Section 8 participation in Manassas, VA is clear: the gap between the $1960 FMR and the $2,158 market rent means that landlords can leverage Section 8 vouchers to secure tenants without necessarily sacrificing profitability. Additionally, the stable property values and high median income support the feasibility of managing Section 8 properties effectively.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.