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 | $2,410 |
| 1 Bedroom | $2,510 |
| 2 Bedrooms | $2,780 |
| 3 Bedrooms | $3,540 |
| 4 Bedrooms | $4,170 |
| 5 Bedrooms | $4,837 |
| 6 Bedrooms | $5,417 |
| 7 Bedrooms | $5,850 |
| 8 Bedrooms | $6,143 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,780 | $509,259 | 0.55% | F |
| 3BR | $3,540 | $635,789 | 0.56% | F |
| 4BR | $4,170 | $714,512 | 0.58% | F |
| 5BR | $4,837 | $807,754 | 0.6% | F |
U.S. Census Bureau data (2024)
The ZIP code 22150, located in Springfield, Virginia, within Fairfax County, stands out due to its unique demographic and economic characteristics. With a population of 27,955 residents, it has a significant rental market, with 36.6% of the population renting their homes. The median income in this area is $123,114, indicating a relatively affluent community. However, the median home value is notably higher at $677,351, reflecting the high cost of homeownership in the region.
For landlords and small-portfolio investors, understanding the dynamics of Section 8 vouchers is crucial. In ZIP 22150, the Fair Market Rent (FMR) for FY 2024 is set at $2,160, while the Zillow Observed Rent Index (ZORI) indicates a market rent of $2,575. This means that landlords who accept Section 8 vouchers can expect to receive approximately $2,160 per month for a unit, which is below the market rate but still provides a steady source of income. The gap between the FMR and ZORI suggests that landlords may need to consider the trade-offs between accepting vouchers and renting at market rates, especially given the higher median home values and incomes in the area.
The data signature for ZIP 22150 reads as stable. The population size and median income suggest a consistent economic base, while the high median home value indicates a strong housing market. For investors, this stability means that there is a reliable demand for both rental units and housing assistance programs. While the rental market is robust, with nearly 37% of the population renting, the income levels indicate that many residents can afford market-rate rents. Therefore, landlords should carefully evaluate their property management strategies to balance the benefits of accepting Section 8 vouchers with the potential for higher rental income from market-rate tenants.
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.