Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,360 |
| 1 Bedroom | $2,460 |
| 2 Bedrooms | $2,720 |
| 3 Bedrooms | $3,470 |
| 4 Bedrooms | $4,080 |
| 5 Bedrooms | $4,733 |
| 6 Bedrooms | $5,301 |
| 7 Bedrooms | $5,725 |
| 8 Bedrooms | $6,011 |
According to the data for ZIP 22103 (West McLean, VA), the Fair Market Rent (FMR) for fiscal year 2024 is set at $2240. While specific market rent figures are not available, this FMR provides a baseline for evaluating rental investments in the area.
The median home value and median income data are currently unavailable, indicating a need for further research into these metrics. However, the absence of precise figures does not diminish the importance of considering these factors when assessing investment potential.
In terms of the rental market, the data shows that 9% of properties are at risk of severe flooding over the next 30 years, while 1% face a risk of wildfire. These environmental factors must be carefully considered, as they can significantly impact property values and insurance costs.
The days on market (DOM) and the percentage of price-cut shares are also not specified, which suggests that the market dynamics in 22103 may vary widely. Investors should monitor these trends closely to understand the local real estate environment better.
A recent sale in the area was priced at $5,100,000, highlighting the premium nature of the housing market in 22103. This figure underscores the high-end residential character of the area, making it attractive for those looking to invest in luxury properties.
Given the data, the Section 8 program appears to offer a stable rental income option in ZIP 22103, particularly for units priced around the FMR. However, due to the lack of detailed market rent and median home value information, further investigation is recommended to fully assess the viability of Section 8 investments in this ZIP code.
Data Sources: FMR data from HUD (2027).
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.