Location: Rappahannock County, VA | Metro: Culpeper 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 | $1,310 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,130 | $526,942 | 0.4% | F |
U.S. Census Bureau data (2024)
1820 is the Fair Market Rent (FMR) for ZIP 22713 as of fiscal year 2024, indicating the maximum rental amount for a unit to be eligible under the Section 8 program. 543,165 represents the median home value in this area, which is significantly higher than the FMR, suggesting a gap between market rates and subsidized housing options. 7.4% is the share of renters in ZIP 22713, a figure that underscores the limited demand for rental properties compared to owner-occupied homes. 90,795 is the median income level for residents, a key metric for determining eligibility for Section 8 benefits.
The data shows that the market rent is not available, implying that landlords might need to rely on FMRs to set their rental prices. The days on market (DOM) and the percentage of price cuts are also marked as N/A, possibly due to insufficient data or a lack of recent transactions. This absence of information could indicate stability in the local real estate market, where significant fluctuations are uncommon.
Given these figures, landlords and small-portfolio investors should be cautious about relying solely on Section 8 tenants in ZIP 22713. The low renter share suggests that there may be fewer potential Section 8 participants in the area. Additionally, the high median home value indicates a preference for homeownership, which could translate into lower overall demand for rentals. However, the median income being below the FMR implies that there is still a segment of the population that would qualify for Section 8 assistance.
Investors should consider diversifying their tenant base beyond just Section 8 participants to mitigate risk. While the program can provide steady income, the cap at 1820 means that landlords cannot charge above this rate for eligible units. Therefore, the decision to participate in Section 8 should be based on a thorough analysis of the local rental market and the potential for securing non-subsidized tenants who can pay closer to the median home value.
Verdict: Participation in Section 8 is viable but should be balanced with other rental strategies given the limited renter share and high median home value.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.