Location: Lancaster County, VA | Metro: Lancaster County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
The Fair Market Rent (FMR) for ZIP code 22528 in Unknown, Virginia, for fiscal year 2026 is set at $1,050. This figure represents the payment standard for Section 8 housing vouchers in the area. It's important to note that this is not the amount you will charge your tenants as rent; rather, it's the maximum amount the government will pay toward a tenant's rent.
While the local median rent for ZIP 22528 is listed as N/A, we can infer from the FMR that rents in the area are likely to be competitive. The N/A% of residents who are renters suggests there is a significant demand for affordable housing in this area, which could translate into a steady stream of potential Section 8 tenants.
The acquisition cost for properties in this area, also listed as N/A, would be the price you'd pay to acquire a rental property. Comparing this cost to the FMR helps determine if the investment is financially viable. If the acquisition cost is low relative to the FMR, it could indicate a good opportunity to secure a steady income source through Section 8.
Before proceeding with a Section 8 rental, ensure the property meets all the necessary Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and must be met for the property to qualify for the program. This verification step is crucial and will save time and resources in the long run.
In summary, the FMR of $1,050 provides a benchmark for the government subsidy available in ZIP 22528. With N/A% of residents being renters, there is a solid demand for affordable housing. The N/A local median rent and N/A acquisition cost figures should be researched further to make an informed decision. Remember, the most critical step is confirming that your property meets HQS requirements.
Data Sources: FMR data from HUD (2027).
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.