Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,430 |
| 1 Bedroom | $2,540 |
| 2 Bedrooms | $2,810 |
| 3 Bedrooms | $3,580 |
| 4 Bedrooms | $4,220 |
| 5 Bedrooms | $4,895 |
| 6 Bedrooms | $5,482 |
| 7 Bedrooms | $5,921 |
| 8 Bedrooms | $6,217 |
U.S. Census Bureau data (2024)
Arlington, VA's ZIP code 22207 stands out due to its significant population of 35,479 residents, where only 21.0% of them rent their homes. This indicates a strong preference for homeownership in the area, supported by a robust median household income of $245,745. The median home value in this ZIP is exceptionally high at $1,391,160, reflecting the affluent nature of the neighborhood.
Despite the high median home value, the rental market dynamics in ZIP 22207 present an interesting opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area, as determined by the Department of Housing and Urban Development (HUD), is set at $2,400 for fiscal year 2024. In contrast, the Zillow Observed Rental Index (ZORI) indicates that the average market rent is $3,135. This discrepancy suggests that landlords can potentially attract tenants through Section 8 vouchers while still achieving above-average rental rates compared to the HUD FMR.
The data signature for ZIP 22207 reads as stable, characterized by a high median income and home values, coupled with a low percentage of renters. This stability implies a consistent demand for housing and a reliable tenant pool for those considering Section 8 properties. Landlords should be prepared for a competitive market, given the high property values, but the economic indicators point towards a secure investment environment.
Data Sources: FMR data from HUD (2027). 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.