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 | $2,560 |
| 1 Bedroom | $2,680 |
| 2 Bedrooms | $2,960 |
| 3 Bedrooms | $3,770 |
| 4 Bedrooms | $4,440 |
| 5 Bedrooms | $5,150 |
| 6 Bedrooms | $5,768 |
| 7 Bedrooms | $6,229 |
| 8 Bedrooms | $6,540 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,680 | $315,278 | 0.85% | C |
| 2BR | $2,960 | $463,004 | 0.64% | D |
| 3BR | $3,770 | $668,915 | 0.56% | F |
| 4BR | $4,440 | $806,414 | 0.55% | F |
| 5BR | $5,150 | $1,002,979 | 0.51% | F |
U.S. Census Bureau data (2024)
Alexandria, VA (ZIP 22315) presents a balanced scenario for real estate investment, leaning towards a steady-cashflow zone rather than a high-yield/low-stability market. The Federal Market Rent (FMR) for FY 2024 is set at $2,520, which is slightly below the market rent of $2,697. This indicates a relatively stable rental environment where landlords can expect to charge close to the FMR without significant resistance from tenants.
The median home value in ZIP 22315 stands at $676,476, reflecting a substantial investment cost. However, the average income in the area is $159,805, providing a solid financial foundation for potential renters. With 23.8% of residents being renters, there is a moderate demand for rental properties, but it is not overwhelmingly high.
The days on market (DOM) figure of 15 days suggests that properties in this area are typically occupied quickly once they become available. This quick turnover reduces vacancy risks and supports a stable cash flow for landlords. The combination of a competitive FMR, a slightly higher market rent, and a quick DOM points towards a market that values consistency over speculative high yields.
To summarize, ZIP 22315 offers a yield of $2,520 per unit based on FMR, with an additional $177 per unit possible if market rates are charged. Given the median income of $159,805 and the moderate rental rate of 23.8%, this area is best suited for investors seeking reliable, long-term returns rather than short-term, high-risk flips.
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.