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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,150 | $419,347 | 0.75% | D |
| 2BR | $3,480 | $758,302 | 0.46% | F |
| 3BR | $4,430 | $1,174,667 | 0.38% | F |
| 4BR | $5,220 | $1,548,510 | 0.34% | F |
| 5BR | $6,055 | $2,376,812 | 0.25% | F |
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). Median home prices from Zillow (2026-08-31). 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.