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 | $1,850 |
| 1 Bedroom | $1,930 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $3,210 |
| 5 Bedrooms | $3,724 |
| 6 Bedrooms | $4,171 |
| 7 Bedrooms | $4,505 |
| 8 Bedrooms | $4,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,140 | $415,286 | 0.52% | F |
| 3BR | $2,730 | $604,031 | 0.45% | F |
| 4BR | $3,210 | $775,562 | 0.41% | F |
| 5BR | $3,724 | $882,190 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 22306 in Alexandria, VA, is characterized by a substantial renter population, with 49.6% of residents being renters. This indicates a significant demand for rental properties in the area. Given that the median household income is $97,132, the typical market rent of $1,925 represents approximately 20.4% of the average monthly income. This percentage aligns closely with the general recommendation that housing costs should not exceed 30% of a household's income.
Comparatively, the Fair Market Rent (FMR) for FY 2024 in ZIP 22306 is set at $1,880, which is slightly below the current market rent. However, the difference is minimal, suggesting that landlords can reasonably charge close to the market rate without significantly exceeding the FMR guidelines.
Landlords in this area should anticipate a diverse tenant pool, likely including a mix of individuals and families who are financially stable but still benefit from the assistance of Section 8 vouchers. The proximity of the FMR to the market rent also implies that there is a strong presence of voucher holders seeking affordable housing options. Landlords will need to ensure that their rental units meet the quality standards required by the Section 8 program to attract these tenants effectively.
In summary, ZIP 22306 is a renter-heavy area with a robust demand for housing assistance through Section 8 vouchers. The income levels suggest that while rent constitutes a considerable portion of monthly income, it remains within a reasonable range for most households. Landlords should prepare to cater to tenants who are seeking affordable living spaces and comply with the necessary requirements of the Section 8 program.
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.