Location: Essex County, VA | Metro: Caroline County, VA
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 | $940 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,610 | $308,416 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 22436 presents a dynamic rental market that is currently defined by the Federal Market Rent (FMR) at $1,200 for the fiscal year 2026. Despite the lack of specific data on market rents and days on market (DOM), the median home value stands at a notable $286,593. This figure suggests a relatively stable housing market, though it does not provide direct insight into the balance between supply and demand.
The low renter share of 1.9% indicates a predominantly owner-occupied area, which can imply less immediate pressure on rental properties. However, this characteristic also points to a potential long-term trend where the housing market may face upward pressure as demand for homeownership remains strong, possibly leading to higher property values over time. In such a setting, landlords and small-portfolio investors must remain vigilant to changes in the local economy and housing policies that could affect both rental and sales markets.
Absent specific data on price-cut shares and DOM, we cannot conclusively state whether supply is outpacing demand or vice versa. However, the snapshot of the median home value combined with the FMR suggests a market where rental properties are priced competitively relative to homeownership. This balance is crucial for landlords as it affects their ability to attract tenants and maintain occupancy rates.
The absence of detailed market rent data makes it challenging to assess the immediate competitiveness of rental properties in 22436. Nevertheless, the FMR serves as a benchmark for affordable housing, which can influence the rental market indirectly through government programs and subsidies. Landlords should be aware of these factors when setting rents and preparing for tenant applications.
In conclusion, ZIP 22436 is characterized by a relatively stable housing market with a high median home value and a modest FMR. The low renter share hints at a preference for homeownership, which can contribute to steady demand for rental properties but also signals potential challenges for increasing rents without losing tenants to the homeownership market. Investors must closely monitor broader economic indicators and policy changes to navigate this market effectively.
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.