Section 8 Fair Market Rent (FMR) for ZIP 22546 - 2027

Location: Caroline County, VA | Metro: Richmond, VA HUD Metro FMR Area

Investment Score for ZIP 22546

Monthly Rent (2BR)

$1,510

Median Price (2BR)

$300,935

1% Rule

0.5%

Annual Yield

6.02%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,130
1 Bedroom	$1,250
2 Bedrooms	$1,510
3 Bedrooms	$2,090
4 Bedrooms	$2,530
5 Bedrooms	$2,935
6 Bedrooms	$3,287
7 Bedrooms	$3,550
8 Bedrooms	$3,728

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,510	$300,935	0.5%	F
3BR	$2,090	$341,039	0.61%	D
4BR	$2,530	$422,237	0.6%	F
5BR	$2,935	$466,650	0.63%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

18,392

Median Household Income

$89,247

Housing Units

7,228

Renter Percentage

14.2%

Occupancy Rate

93.3%

Renter Occupied

955

Ruther Glen, Virginia, located in ZIP code 22546, is a suburban area that offers a blend of rural charm and convenient access to urban amenities. The region's real estate market is characterized by a mix of homeowners and renters, influenced by both federal housing programs and local rental dynamics.

The Fair Market Rent (FMR) for ZIP 22546 in fiscal year 2024 is set at $1,770, which represents the maximum amount that a low-income family receiving federal assistance can be expected to pay for rent and utilities.
The market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $2,301, indicating the average rent price for the area, slightly above the FMR.
The median home value in Ruther Glen is $352,384, reflecting the typical price range for homes in the area.
Renters make up 14.2% of the total housing units in ZIP 22546, suggesting a moderate demand for rental properties.
The days on market (DOM) for rental listings is 41 days, which is relatively quick and shows a healthy turnover rate in the rental market.
The median household income in the area is $89,247, providing insight into the financial capacity of potential tenants and buyers.

Investors looking to enter the Ruther Glen real estate market should consider the gap between the Fair Market Rent and the actual market rent, which indicates opportunities for pricing rentals competitively while still achieving a premium over government-assisted rates. With a median home value of $352,384 and a median income of $89,247, there is a strong foundation for property appreciation and stable tenant incomes. However, the relatively low renter share of 14.2% suggests that competition for rental properties might be fierce, making it crucial to maintain properties in good condition and offer them at attractive prices. The quick DOM of 41 days signals a responsive rental market, where timely listings and maintenance can lead to faster occupancy and better returns on investment.

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.