Location: Shenandoah County, VA | Metro: Warren County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 22645 in Middletown, VA, for fiscal year 2024 is set at $1,110. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; it's the payment standard used by the housing authority to determine the maximum subsidy for tenants.
In comparison, the average rent for a two-bedroom apartment in Middletown, VA, based on Census ACS data, is $1,019. This means that the FMR is slightly higher than the typical market rate, which could be advantageous for landlords participating in the Section 8 program.
Middletown has a relatively high percentage of renters at 19.6%. This suggests there is a strong demand for rental properties in the area, particularly for those who qualify for assistance through the Section 8 program. Given this demand, your property is likely to attract interested tenants.
If you're considering purchasing a property for your first Section 8 rental, the median home value in Middletown, VA, is around $447,662. This figure can help you estimate the acquisition cost for a new investment property. However, remember that Section 8 properties typically require compliance with certain standards and may need additional renovations or maintenance to meet these requirements.
Before making a final decision, verify that the property meets all the necessary criteria for participation in the Section 8 program. This includes ensuring it passes a Housing Quality Standards (HQS) inspection, which checks for safety and habitability. Compliance with these standards is essential to secure a tenant and ensure steady rental income.
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.