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 | $297,479 | 0.9% | C |
| 2BR | $2,970 | $429,090 | 0.69% | D |
| 3BR | $3,790 | $687,132 | 0.55% | F |
| 4BR | $4,460 | $878,361 | 0.51% | F |
| 5BR | $5,174 | $1,196,403 | 0.43% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 22033, located in Fairfax, VA, within the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, works favorably for landlords. The Fair Market Rent (FMR) set at $2400 for fiscal year 2024 slightly exceeds the current market rent index (ZORI) of $2,315. This indicates that landlords can expect to charge rents close to the FMR without significantly overpricing their properties.
Acquisition in this area is relatively affordable. With a median home value of $711,131, potential investors have a clear benchmark for property costs. Additionally, the quick turnover rate, indicated by a 5-day days on market (DOM), and the low 0.1% share of homes with price cuts suggest a robust and competitive market where homes sell swiftly and rarely need to be discounted.
Tenant demand in ZIP 22033 is strong, supported by a population of 39,526 residents, with 36.3% being renters. This high percentage of renters, combined with the favorable rent math and affordable acquisition costs, points to a healthy pool of potential tenants who can afford the rental rates and are actively seeking housing in the area.
Verdict: ZIP 22033 presents a promising investment opportunity for landlords and small-portfolio investors. The rent math aligns well with market conditions, making it possible to achieve reasonable returns. Acquisition costs, while significant, are balanced by the brisk sales pace and low need for price adjustments. Tenant demand is robust, ensuring a steady stream of potential occupants. These factors collectively indicate a stable and profitable rental 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.