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 | $2,570 |
| 1 Bedroom | $2,690 |
| 2 Bedrooms | $2,970 |
| 3 Bedrooms | $3,790 |
| 4 Bedrooms | $4,460 |
| 5 Bedrooms | $5,174 |
| 6 Bedrooms | $5,795 |
| 7 Bedrooms | $6,259 |
| 8 Bedrooms | $6,572 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,690 | $296,351 | 0.91% | C |
| 2BR | $2,970 | $499,900 | 0.59% | F |
| 3BR | $3,790 | $690,715 | 0.55% | F |
| 4BR | $4,460 | $1,045,668 | 0.43% | F |
| 5BR | $5,174 | $1,236,646 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 22031 in Fairfax, VA, is characterized by a significant rental population. With 51.6% of residents being renters, this area qualifies as a renter-heavy zone. Given the high percentage of renters, there is likely a substantial demand for housing assistance through Section 8 vouchers. However, the median household income of $134,577 suggests that while there is demand, it might be less pronounced compared to areas with lower incomes.
The typical market rent in ZIP 22031 is $2,341, which represents approximately 17.4% of the median household income. This percentage indicates that the cost of rent is relatively manageable for most residents. The Fair Market Rent (FMR) for the area is set at $2,410 for FY 2024, slightly higher than the market rent, which could provide some cushion for landlords who accept Section 8 vouchers.
A landlord in this ZIP can expect tenants who are either on Section 8 vouchers or have other forms of financial support to afford the higher rents. These tenants will likely be working individuals or families who qualify for assistance due to their income level but still need to reside in a moderately priced rental unit. The tenant profile would generally include those who are employed but earn below 50% of the area median income, as required for Section 8 eligibility. Landlords should prepare for tenants who are financially stable enough to cover the difference between the voucher amount and the market rent, if any.
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.