Section 8 Fair Market Rent (FMR) for ZIP 22303 - 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	$2,300
1 Bedroom	$2,400
2 Bedrooms	$2,660
3 Bedrooms	$3,390
4 Bedrooms	$3,990
5 Bedrooms	$4,628
6 Bedrooms	$5,183
7 Bedrooms	$5,598
8 Bedrooms	$5,878

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

16,922

Median Household Income

$103,656

Housing Units

8,920

Renter Percentage

50.9%

Occupancy Rate

92.7%

Renter Occupied

4,209

Housing Authorities Serving ZIP 22303

Fairfax County Redevelopment & Hsg Authority (Fairfax, VA) - 5,329 Section 8 vouchers

To determine if you should buy in ZIP code 22303 (Huntington, VA) for Section 8 purposes, follow this decision tree:

1) Does FMR $2260 (zip FY 2024) clear debt service on a $562,649 property?

No. The Fair Market Rent (FMR) for ZIP 22303 is set at $2260 per month for fiscal year 2024. This amount is insufficient to cover the typical debt service on a property valued at $562,649. Debt service includes principal and interest payments on a mortgage, which would likely exceed this figure.

2) Is market rent $2,291 (ZORI) above, at, or below FMR?

The Zillow Observed Rent Index (ZORI), which represents the average market rent, is $2291. This is slightly above the FMR of $2260. However, since the FMR does not cover the debt service, the slight premium in market rent is not significant enough to justify a purchase based solely on Section 8 eligibility.

3) Are 50.9% renters + 26-day DOM enough demand?

The percentage of renters in ZIP 22303 is 50.9%, indicating a substantial rental market presence. Additionally, the days on market (DOM) for rentals is 26 days, which suggests relatively strong demand for rental properties. Despite these factors, the primary issue remains the inability of the FMR to cover the debt service on a property of this value.

Conclusion: Based on the provided data, the answer to whether you should buy in ZIP 22303 for Section 8 is No. The key factor is that the FMR of $2260 cannot support the debt service on a $562,649 property. Even though the market rent is slightly higher and there is a reasonable level of demand, these elements do not overcome the fundamental challenge of financial sustainability under the Section 8 program. Landlords should consider other areas where the FMR can better support the cost of ownership for their investment properties.

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.