Location: Madison County, VA | Metro: Madison County, VA
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 | $960 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $537,443 | 0.28% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 22719 reveals a challenging environment due to the limited availability of market rent data. However, comparing the HUD Fair Market Rent (FMR) of $1020 for the fiscal year 2024 to the median home value of $480,931 provides insight into the local rent-to-price ratio. This ratio suggests that the area is primarily oriented towards homeownership rather than renting, given the relatively high home values compared to the rental rates.
Voucher tenants in this region will generally only cashflow with premium units, as the FMR does not cover the average costs associated with maintaining standard properties. The lack of market rent data indicates a possible scarcity of rental properties, which could be attributed to the strong preference for owning homes over renting in this area. Despite this, the absence of specific market rent figures and days on market (DOM) data means that we cannot precisely quantify the demand for rental properties or the time it takes to lease them out.
The price-cut share data is also unavailable, making it difficult to assess how often landlords need to reduce their asking rents to attract tenants. Nonetheless, the high median home value implies that the area may offer stability and potential for long-term appreciation, particularly if the trend towards homeownership continues. For Section 8 investors, the strongest angle is likely appreciation, given the robust home values and the assumption that the local real estate market is growing.
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.