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 | $2,160 |
| 1 Bedroom | $2,250 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,170 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,250 | $302,631 | 0.74% | D |
| 2BR | $2,490 | $396,042 | 0.63% | D |
| 3BR | $3,170 | $598,171 | 0.53% | F |
| 4BR | $3,740 | $908,336 | 0.41% | F |
| 5BR | $4,338 | $1,007,143 | 0.43% | F |
U.S. Census Bureau data (2024)
ZIP 20191, located in Reston, VA, within the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, serves as a cash-flow anchor in a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 20191 in fiscal year 2024 is set at $2120, which is significantly lower than the market rent of $2,498. This creates a $378 spread per unit, where landlords can secure rental income through Section 8 vouchers that are closer to the actual market rate.
The median home value in Reston, VA, is $625,403, indicating a high-cost area. However, the relatively low FMR compared to the market rent ensures steady and predictable cash flow for landlords who participate in the Section 8 program. This is particularly beneficial because the demand for affordable housing remains strong, even in expensive markets.
The 0.2% price-cut share and 7-day Days on Market (DOM) suggest that properties in this ZIP code sell quickly and without significant discounts. This means that the real estate market in Reston is robust, providing landlords with both rental income stability and potential for property appreciation over time.
Additionally, the 32.0% renter share and median income of $151,185 indicate a diverse population with varying housing needs. While the renter share is moderate, the high median income suggests that tenants outside the Section 8 program might also be willing to pay higher rents, further enhancing the overall cash flow potential of a portfolio anchored in this ZIP code.
In summary, ZIP 20191 provides a solid foundation for a Section 8 portfolio due to its ability to generate consistent cash flow, thanks to the favorable spread between FMR and market rent. This makes it an ideal choice for landlords and small-portfolio investors looking to stabilize their income streams while operating in a high-demand, high-value real estate market.
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.