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 | $1,950 |
| 1 Bedroom | $2,030 |
| 2 Bedrooms | $2,250 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,380 |
| 5 Bedrooms | $3,921 |
| 6 Bedrooms | $4,392 |
| 7 Bedrooms | $4,743 |
| 8 Bedrooms | $4,980 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,030 | $208,622 | 0.97% | C |
| 2BR | $2,250 | $261,876 | 0.86% | C |
| 3BR | $2,870 | $855,247 | 0.34% | F |
| 4BR | $3,380 | $1,087,334 | 0.31% | F |
| 5BR | $3,921 | $1,283,516 | 0.31% | F |
U.S. Census Bureau data (2024)
The Falls Church, VA area (ZIP 22044) presents a unique opportunity for Section 8 investors due to the alignment between the HUD Fair Market Rent (FMR) and the actual market rents. The HUD FMR for the region is set at $1880 for fiscal year 2024, which closely matches the Zillow Observed Rent Index (ZORI) of $1860. This indicates that voucher tenants will generally cashflow at the FMR without requiring significant concessions or improvements.
The median home value in Falls Church, VA is $591,997, providing a basis for calculating the rent-to-price ratio. With an average rent of $1860, the rent-to-price ratio is approximately 0.31%, suggesting that rental properties are priced higher relative to their rental income compared to other areas. However, this high median home value also implies strong local demand for housing, which supports the viability of rental investments.
In terms of days on market (DOM) and price-cut shares, these metrics are not applicable (N/A) for the current analysis. Nonetheless, the stability of the local real estate market can be inferred from the consistent demand for both rental and owner-occupied properties. The close match between the HUD FMR and ZORI suggests that the market is relatively stable, with little pressure from either side to adjust prices significantly.
The strongest angle for Section 8 investors in Falls Church, VA is likely to be cashflow, given the favorable alignment between the HUD FMR and the market rents. While the high median home value may initially seem daunting, the strong demand for rentals ensures that investors can maintain positive cashflow with minimal risk.
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.