Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,010 |
| 1 Bedroom | $3,150 |
| 2 Bedrooms | $3,480 |
| 3 Bedrooms | $4,430 |
| 4 Bedrooms | $5,220 |
| 5 Bedrooms | $6,055 |
| 6 Bedrooms | $6,782 |
| 7 Bedrooms | $7,325 |
| 8 Bedrooms | $7,691 |
U.S. Census Bureau data (2024)
ZIP code 22314, located in Alexandria, VA, is part of the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 22314 in fiscal year 2024 is set at $2,900. This compares to an average market rent of $2,619, indicating that the FMR is slightly above what tenants typically pay in the area.
The median home value in ZIP 22314 is $874,622, which is higher than the typical home value in the broader metro area. This suggests that 22314 leans towards being a premium sub-market within the larger Washington-Arlington-Alexandria region.
A key metric for landlords and investors is the renter share, which stands at 53.8% in 22314. This figure is notably high compared to the national average, signaling a strong demand for rental properties in this ZIP code. However, the divergence between the relatively high renter share and the above-average home values does not necessarily indicate a Section 8 sweet spot, as the FMR is also higher than the average market rent.
To further contextualize these figures, it's important to consider the broader trends within the Washington-Arlington-Alexandria metro area. If the average FMR across the metro is lower than $2,900, then 22314 would be considered a premium sub-market where the cost of living, including housing, is higher than the regional average.
The combination of high FMR, high renter share, and elevated home values suggests that 22314 is a desirable location for both homeowners and renters. For landlords and small-portfolio investors, this ZIP code represents a robust investment opportunity, particularly for those interested in higher-end rentals or property purchases.
Investors should also note that while the FMR is set at $2,900, actual market rents are lower at $2,619. This could mean that properties in 22314 are priced at a premium but might offer some flexibility in terms of rental pricing, especially when considering the high proportion of renters in the area.
In summary, ZIP 22314 appears to be a premium sub-market within the Washington-Arlington-Alexandria metro area, offering strong potential for rental investments due to its high renter share and above-average home values.
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.