Location: Northumberland County, VA | Metro: Lancaster 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 | $960 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $253,015 | 0.47% | F |
| 3BR | $1,450 | $345,734 | 0.42% | F |
| 4BR | $1,850 | $561,649 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 22482, located in Kilmarnock, VA within the Northumberland County, VA metro area, presents a unique profile when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $1,130, which is notably higher than the average market rent of $919. This discrepancy suggests that landlords in 22482 might benefit from higher rental assistance payments through Section 8 programs.
The median home value in 22482 stands at $360,934, which could be considered moderate within the context of the broader Northumberland County metro. This figure indicates that while property values are not excessively high, they are also not at the lower end of the spectrum, suggesting a balanced real estate market.
A significant point of interest is the 30.3% renter share in 22482. This relatively high percentage of renters compared to homeowners is a characteristic often seen in areas that are particularly attractive for Section 8 tenants. Given the below-average market rent but above-average FMR, combined with the substantial renter share, it's reasonable to infer that 22482 represents a sweet spot for Section 8 participation. Landlords can expect a good number of eligible tenants without facing the challenges of extremely high competition for properties.
In summary, ZIP 22482 appears to be a mid-tier neighborhood within the Northumberland County, VA metro. It offers neither the lowest nor the highest home values or rents, but the combination of a favorable renter share and the disparity between market rents and FMR makes it an advantageous location for landlords involved in the Section 8 program. The area's characteristics suggest a stable and moderately priced real estate market, beneficial for both investors and tenants seeking affordable housing options.
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.