Location: Rappahannock County, VA | Metro: Rappahannock County, VA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,770 |
| 5 Bedrooms | $3,213 |
| 6 Bedrooms | $3,599 |
| 7 Bedrooms | $3,887 |
| 8 Bedrooms | $4,081 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,850 | $467,046 | 0.4% | F |
| 3BR | $2,200 | $629,960 | 0.35% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 22627, specifically Flint Hill, VA, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1320, while the Census American Community Survey (ACS) reports the average market rent at $1128. This indicates that the FMR exceeds the market rent by $192, or approximately 17%.
This discrepancy suggests that landlords and small-portfolio investors in Flint Hill, VA can benefit from participating in the Section 8 program. The higher FMR ensures a steady stream of rental income at rates above what the open market currently offers. Given that 28.1% of residents are renters, there is a substantial demand for affordable housing options. With a median home value of $622,870 and a median household income of $97,054, many local renters may find it challenging to afford market-rate housing.
The Section 8 program guarantees payment up to the FMR, which makes it an attractive option for investors seeking consistent cash flow. However, it's important to note that accepting housing vouchers comes with certain administrative burdens and regulations. Despite these challenges, the potential to earn $192 more per month per unit compared to the open market makes this ZIP code a compelling yield play for those willing to navigate the voucher system.
To illustrate further, consider a property with three rental units. At the market rate of $1128, the monthly rental income would be $3384. By participating in Section 8, the landlord could receive $1320 per unit, totaling $3960 per month. This additional income of $576 per month, or about 17%, significantly enhances the overall profitability of the investment portfolio.
In conclusion, the gap between the FMR and the market rent in ZIP code 22627 presents a clear opportunity for landlords and investors to maximize their returns through the Section 8 program. The higher guaranteed payments help offset the costs associated with managing voucher tenants and provide a stable, above-market rental income.
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.