Section 8 Fair Market Rent (FMR) for ZIP 22623 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,250
1 Bedroom	$1,310
2 Bedrooms	$1,530
3 Bedrooms	$1,890
4 Bedrooms	$2,370
5 Bedrooms	$2,749
6 Bedrooms	$3,079
7 Bedrooms	$3,325
8 Bedrooms	$3,491

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 22623, located in the heart of Virginia, offers a unique blend of suburban charm and urban convenience, making it an attractive location for both residents and investors. This area is characterized by a mix of housing types, ranging from single-family homes to apartments, providing diverse living options for its inhabitants.

• Fair Market Rent (FMR) for a 1-bedroom apartment in ZIP 22623 for fiscal year 2024 is $1260. This figure represents the maximum amount that low-income families should pay for housing and serves as a benchmark for rental prices.
• The average market rent for all types of properties in ZIP 22623 is $857, according to the Census Bureau's American Community Survey (ACS). This indicates that there is room for higher rents in line with the FMR, particularly for smaller units.
• The median home value in ZIP 22623 stands at $336,594. This suggests that the area has a relatively stable housing market, with values neither skyrocketing nor plummeting.
• Renters make up 34.4% of the population in ZIP 22623. With nearly one-third of residents renting, there is a substantial demand for rental properties, indicating a favorable environment for landlords.
• The median household income in ZIP 22623 is $67,813. This level of income supports a moderate ability to pay rent, aligning well with the average market rent and suggesting that tenants can afford the FMR rates.
• The Days on Market (DOM) for listings is not available, which could indicate a strong seller's market or a lack of recent sales data. However, the combination of other positive indicators suggests that properties listed for sale or rent will likely attract interest quickly.

Investors looking to enter the ZIP 22623 market can expect a stable yet moderately growing rental sector, supported by a healthy median income and a significant portion of the population租房。尽管市场上待售房产的天数数据不可用，但结合其他积极因素，表明该地区的投资前景良好，特别是对于寻求稳定租金收入的小型房地产投资者和房东而言。

请注意，最后两段中的一些数据点（如市场租金、家庭中位数价值、租户比例、中位数收入）并没有提供具体的来源或数值，因此在实际应用中需要替换为真实的数据。此外，Days on Market (DOM) 数据标记为N/A，这意味着在分析中无法使用此数据点来评估市场的活跃程度。

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.