Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,040 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $2,990 |
| 4 Bedrooms | $3,530 |
| 5 Bedrooms | $4,095 |
| 6 Bedrooms | $4,586 |
| 7 Bedrooms | $4,953 |
| 8 Bedrooms | $5,201 |
The Fair Market Rent (FMR) for ZIP code 22555 in Fairfax County, Virginia, for fiscal year 2024 is set at $1850. This figure represents the payment standard for Section 8 housing assistance and does not reflect the actual rent that tenants will pay. Instead, it is the maximum amount that the Housing Choice Voucher program will cover for a unit in this area.
To clarify, if you decide to participate in the Section 8 program with your rental property in ZIP 22555, you can expect to receive up to $1850 per month from the government to subsidize the rent. The tenant will be responsible for paying the remainder, typically around 30% of their income.
While the FMR provides insight into the subsidy limit, it's important to note that the local median rent for this ZIP code is currently not available. However, understanding the demand for Section 8 rentals is crucial. In ZIP 22555, the percentage of renters who qualify for and would likely seek Section 8 assistance is also not available, but generally, areas with higher percentages of low-income residents have a greater demand for affordable housing options.
The acquisition cost for rental properties in ZIP 22555, which refers to the average price paid for acquiring rental units, is similarly not available. However, knowing the typical acquisition cost can help you assess whether your investment aligns with market expectations and whether the FMR will sufficiently cover your expenses over time.
Before proceeding with a Section 8 rental, verify that your property meets all the required quality standards, known as the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary. Failure to meet these standards could result in your property being rejected from the program, despite the potential benefits of participating.
In summary, the FMR of $1850 for ZIP 22555 sets the upper limit for government subsidies under the Section 8 program. Ensure your property complies with HQS to avoid rejection and to secure a steady stream of rental income through this assistance program.
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.