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 | $2,360 |
| 1 Bedroom | $2,470 |
| 2 Bedrooms | $2,730 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $4,100 |
| 5 Bedrooms | $4,756 |
| 6 Bedrooms | $5,327 |
| 7 Bedrooms | $5,753 |
| 8 Bedrooms | $6,041 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,470 | $327,847 | 0.75% | D |
| 2BR | $2,730 | $541,102 | 0.5% | F |
| 3BR | $3,480 | $1,043,819 | 0.33% | F |
| 4BR | $4,100 | $1,324,588 | 0.31% | F |
| 5BR | $4,756 | $1,850,329 | 0.26% | F |
U.S. Census Bureau data (2024)
The rent math in Falls Church, VA (ZIP 22046) does not align favorably with the HUD Fair Market Rent (FMR). The FMR for FY 2024 stands at $2390, which is notably lower than the current market rent of $2,680 as indicated by the Zillow Observed Rental Index (ZORI). This discrepancy suggests that landlords might struggle to cover costs if they rely solely on the FMR rates.
Acquisition in this area is moderately affordable, given the median home value of $1,052,485. However, the relatively low Days on Market (DOM) of 13 days and a minuscule 0.2% share of homes experiencing price cuts imply a competitive market where quick sales and minimal negotiation room exist. Landlords should be prepared for higher upfront costs and possibly less leverage when acquiring properties.
Tenant demand in Falls Church is robust, supported by a population of 18,169 and a significant 37.7% renter share. This indicates a substantial pool of potential tenants, making it likely that rental properties will be occupied promptly.
In summary, while the area boasts strong tenant demand and moderate affordability in terms of property acquisition, the rent math presents a challenge due to the disparity between the HUD FMR and the actual market rents. Landlords must ensure their investment strategies account for these realities to achieve profitability. Despite the higher costs, the consistent demand for rentals makes Falls Church a viable option for those willing to invest wisely.
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.