Location: Caroline County, VA | Metro: Caroline County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 22538 in the metro area for fiscal year 2026 is set at $1,410. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning that if you participate in this program, the maximum amount the government will pay toward a tenant's rent is $1,410 per month. It's important to note that this is not the actual rent you would charge your tenants; it's the benchmark used by the Department of Housing and Urban Development (HUD) to determine subsidy levels.
To put this into perspective, let's compare it to the local average rent. Unfortunately, specific local rent data is not available at this time, indicated by N/A. However, the lack of detailed local data does not diminish the importance of understanding the FMR. The FMR serves as a guideline for landlords to ensure they do not overcharge tenants participating in the Section 8 program.
The renter share in ZIP 22538 is reported as 0.0%, which suggests there is currently no additional percentage of rent that voucher holders must pay beyond the FMR. This can be interpreted as an indication of low demand for Section 8 vouchers in this area, possibly due to a limited number of eligible applicants or other factors affecting participation. Landlords should consider this when deciding whether to accept Section 8 tenants, as it might mean fewer potential renters to choose from.
In terms of acquiring a property, the cost is also listed as N/A. This absence of data means that specific figures on property values or acquisition costs cannot be cited directly. However, landlords should research local real estate trends independently to understand the typical costs involved in purchasing a rental property in this ZIP code.
Before making a final decision to participate in the Section 8 program with your first rental property in ZIP 22538, verify the condition of the property against HUD's Housing Quality Standards (HQS). These standards ensure that the rental unit meets basic safety and habitability requirements, which is crucial for securing a Section 8 tenant and maintaining compliance with the program.
Data Sources: FMR data from HUD (2027). 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.