Location: Madison 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 | $1,360 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $461,218 | 0.34% | F |
| 3BR | $1,880 | $517,868 | 0.36% | F |
| 4BR | $2,330 | $685,675 | 0.34% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $1190 for ZIP 22740 (Sperryville, VA), landlords can expect a steady stream of rental income aligned with the local housing market. The Census ACS reports a market rent of $1,589, indicating a premium over the FMR that savvy investors can leverage. A median home value of $528,527 suggests a robust real estate market, where property investments can yield significant returns. With a renter share of 35.1%, there is a substantial demand for rental properties in the area, making it an attractive market for landlords. The median income of $65,938 provides insight into the financial capacity of potential tenants, ensuring a stable pool of applicants who can afford the average rents. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the overall economic indicators point to a healthy real estate environment. Landlords should note that while the market rent exceeds the FMR, the income levels still support a strong rental market. In conclusion, the data supports a positive outlook for landlords and small-portfolio investors in Sperryville, VA. The verdict on Section 8 participation remains favorable, given the alignment between the FMR and tenant income levels.
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.