Section 8 Fair Market Rent (FMR) for ZIP 22209 - 2027
Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $2,620 |
| 1 Bedroom | $2,730 |
| 2 Bedrooms | $3,020 |
| 3 Bedrooms | $3,850 |
| 4 Bedrooms | $4,530 |
| 5 Bedrooms | $5,255 |
| 6 Bedrooms | $5,886 |
| 7 Bedrooms | $6,357 |
| 8 Bedrooms | $6,675 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$120,515
Housing Authorities Serving ZIP 22209
To decide whether to invest in ZIP 22209 (Arlington, VA) for Section 8 properties, follow this decision tree:
- Does FMR $2,550 (ZIP FY 2024) clear debt service on a $726,638 property?
- If yes: The Fair Market Rent (FMR) of $2,550 per month is sufficient to cover the debt service on a property valued at $726,638. This makes ZIP 22209 financially viable for Section 8 investments.
- If no: The FMR of $2,550 does not cover the debt service on a property priced at $726,638. Investing here would result in financial losses unless you can secure a lower-priced property.
- Is market rent $2,825 (ZORI) above, at, or below FMR?
- If above: The Zillow Observed Rental Index (ZORI) of $2,825 exceeds the FMR of $2,550. This indicates that non-Section 8 tenants might be willing to pay higher rents, providing an opportunity to diversify your tenant base.
- If at: The ZORI of $2,825 is close to the FMR of $2,550, suggesting little difference between market rates and Section 8 rates. This scenario limits flexibility but still provides stable income.
- If below: If the ZORI were below the FMR, which it is not in this case, it would imply that Section 8 rates are higher than what the market offers. However, with ZORI at $2,825, this situation does not apply.
- Are 71.4% renters + N/A-day DOM enough demand?
- If yes: With 71.4% of the population being renters, there is strong demand for rental properties. Additionally, the N/A for days on market (DOM) suggests that listings are typically snapped up quickly, indicating robust interest in the area.
- If no: There is no evidence to suggest insufficient demand; the high percentage of renters and quick turnover of listings point towards a healthy market.
- If it depends: While the renter percentage is high, the lack of specific DOM data means you must consider other factors such as local job markets and economic stability before making a final decision.
Conclusion: Based on the provided data, ZIP 22209 appears to be a strong candidate for Section 8 investment if the FMR of $2,550 clears the debt service on a property valued at $726,638. The market rent being above the FMR also supports diversifying your tenant pool. The high renter percentage and quick market turnover further indicate strong demand for rental properties in the area.
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.