Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,630 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,820 |
| 5 Bedrooms | $3,271 |
| 6 Bedrooms | $3,664 |
| 7 Bedrooms | $3,957 |
| 8 Bedrooms | $4,155 |
U.S. Census Bureau data (2024)
The ZIP code 20839 is situated in a high-income neighborhood in Fairfax County, Virginia, characterized by affluent residents and a significant number of rental properties. With a total population of 158, over half of the residents—50.0%—are renters, indicating a robust demand for rental housing in the area. The median household income stands at a substantial $160,329, reflecting the wealth of the community. The median home value is also impressively high, at $680,098, underscoring the premium nature of the real estate market.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP code 20839 in fiscal year 2024 is set at $1800. This figure represents the maximum amount that a Section 8 tenant can be expected to pay towards their rent. However, it's important to note that the market rent for the area is currently not available, which could suggest either a lack of comprehensive data or an anomaly given the typically high rental rates in such affluent areas. Despite this gap in information, the FMR provides a benchmark for understanding the potential rental income from Section 8 tenants.
Considering these factors, ZIP code 20839 would likely appeal more to a hands-on value-add buyer rather than a hands-off voucher operator. The high median income and home values indicate a strong economic foundation, but also suggest that there might be limited opportunities for passive investment due to the scarcity of affordable housing options. A hands-on approach would allow investors to target the specific needs of the local market, potentially offering more competitive rental rates or value-added services that cater to the affluent demographic while still benefiting from the Section 8 program.
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.