Section 8 Fair Market Rent (FMR) for ZIP 22192 - 2027

Investment Score for ZIP 22192

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,110
1 Bedroom	$2,210
2 Bedrooms	$2,440
3 Bedrooms	$3,110
4 Bedrooms	$3,660
5 Bedrooms	$4,246
6 Bedrooms	$4,756
7 Bedrooms	$5,136
8 Bedrooms	$5,393

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,210	$234,167	0.94%	C
2BR	$2,440	$330,907	0.74%	D
3BR	$3,110	$471,708	0.66%	D
4BR	$3,660	$684,760	0.53%	F
5BR	$4,246	$797,629	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 22192 (Woodbridge, DC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for Woodbridge, DC (ZIP 22192) is set by HUD for 2026. For a two-bedroom unit, the FMR is $2290. This amount represents 21.6% of the median household income in the area, which stands at $127,177. However, it is important to understand how this compares to actual rents in the market. According to Zillow, the median price for a two-bedroom home in this ZIP code is $330,443. The price-to-FMR ratio is 12.0x, meaning that the median price of a two-bedroom home is approximately 12 times the FMR for a two-bedroom rental unit. This suggests that actual rents in the market are likely much higher than the FMR, creating significant constraints for voucher holders. They may struggle to find units that accept their vouchers due to the high cost of housing relative to the FMR. #### Affordability & Renter Profile In Woodbridge, DC, 23.1% of the population are renters, indicating a relatively small rental market compared to the overall population of 59,794. Given the occupancy rate of 97.4%, it is clear that the rental market is tight, with very few vacant units available. This tightness can be attributed to the high median household income and the limited number of affordable units. The median household income of $127,177 suggests that most residents have the financial means to purchase homes rather than rent them, making it challenging for lower-income individuals to find suitable housing. The FMR for a two-bedroom unit being only $2290 is significantly below the market rate, which implies that many voucher holders will face difficulties in finding landlords willing to accept their vouchers at these rates. #### Investor Angle From an investor’s perspective, the ZIP code 22192 presents a mixed picture. While the FMRs provide a baseline for what voucher holders can afford, the actual rents in the market are much higher. For instance, a two-bedroom unit with an FMR of $2290 would need to generate sufficient cash flow to cover the mortgage, maintenance, and other expenses associated with owning a property valued at around $330,443. Given the price-to-FMR ratio of 12.0x, it is unlikely that an investor could achieve positive cash flow solely based on FMRs. The high median home prices indicate a premium market where properties are generally priced well above the FMRs, making it difficult for investors to find properties that are both affordable and profitable when renting to voucher holders. #### Investment Grade Considering the high median home prices and the tight rental market, the investment grade for this ZIP code is moderate to low for Section 8-focused investors. The primary challenge lies in the ability to find properties that can be rented out at or near the FMR while still generating a reasonable return on investment. Additionally, the limited supply of rental units and the high demand suggest that competition for tenants is fierce, further complicating the investment landscape. #### Specific Actionable Insights 1. **Target Affordable Units**: Investors should focus on acquiring properties that are priced closer to the FMR. For example, a two-bedroom unit priced at $2290 or slightly above would be more attractive to voucher holders and potentially easier to manage financially. This might involve looking for older or less desirable properties that are undervalued in the market. 2. **Consider Multi-Family Properties**: Single-family homes in this ZIP code are likely to be priced far above the FMR. Instead, investors might consider multi-family properties, such as apartments or townhouses, which may offer better opportunities for renting at FMR rates. These properties often have lower per-unit costs and can be more flexible in terms of pricing. 3. **Engage with Local Real Estate Networks**: To navigate the tight rental market, investors should engage with local real estate networks and associations. This can help in identifying properties that are more likely to be rented out at FMR rates and understanding the local dynamics that affect rental prices. #### Bottom Line Given the high median home prices and the tight rental market, the recommendation for Section 8-focused investors is to **Skip** this ZIP code unless they can find properties that are significantly undervalued or have unique characteristics that make them more attractive to voucher holders. The high price-to-FMR ratio indicates that achieving positive cash flow through Section 8 rentals alone is unlikely without substantial subsidies or additional revenue streams. Therefore, unless there are specific opportunities that align closely with the FMRs, investing in this ZIP code would not be advisable for those primarily interested in Section 8 rentals.

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.