Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,260 |
| 1 Bedroom | $2,360 |
| 2 Bedrooms | $2,610 |
| 3 Bedrooms | $3,330 |
| 4 Bedrooms | $3,920 |
| 5 Bedrooms | $4,547 |
| 6 Bedrooms | $5,093 |
| 7 Bedrooms | $5,500 |
| 8 Bedrooms | $5,775 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,610 | $574,545 | 0.45% | F |
| 3BR | $3,330 | $683,881 | 0.49% | F |
| 4BR | $3,920 | $966,265 | 0.41% | F |
| 5BR | $4,547 | $1,196,828 | 0.38% | F |
U.S. Census Bureau data (2024)
Purcellville, VA, located in ZIP code 20132, is a high-income suburban neighborhood with a total population of 19,817. Only 7.1% of residents are renters, indicating a predominantly owner-occupied community. The median household income stands at an impressive $181,875, reflecting the affluent nature of the area. Median home values in Purcellville are equally striking, with homes valued at $898,741. This suggests a robust local economy and a strong demand for housing.
Transitioning to the economic dynamics of renting in Purcellville, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,850, which is significantly below the Census Bureau's reported market rent of $2,253 based on American Community Survey (ACS) data. This gap highlights the potential profitability for landlords who can capitalize on the higher market rents while still participating in the Section 8 program.
The question then arises: is Purcellville suitable for a hands-off voucher operator or a hands-on value-add buyer? Given the low percentage of renters and the high median income, it is likely that hands-on operators could find success by adding value through property improvements. However, the higher market rent compared to the FMR also indicates that hands-off operators might struggle to attract tenants willing to pay the lower subsidized rates. For those considering investment, it is crucial to evaluate both the potential for value addition and the willingness of the local tenant pool to participate in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.