Location: Page County, VA | Metro: Madison County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
1060 is the Fair Market Rent (FMR) for ZIP code 22743 as of fiscal year 2024, setting a benchmark for rental properties in the area. 382,109 represents the median home value, indicating a moderate housing market where property values are neither excessively high nor low. 20.5% is the portion of the population that rents, suggesting a balanced mix between homeowners and renters. 46,500 is the median income figure, reflecting the financial capacity of residents to afford housing costs. While the exact days on market (DOM) and the percentage of price-cut share are not available, these missing figures can be inferred to be stable based on the other data points. The absence of recent fluctuations in DOM and price-cut share implies a steady housing market without significant distress sales or prolonged listings. Given the FMR of 1060 and the median home value of 382,109, landlords and small-portfolio investors can expect reasonable returns on their investments. The relatively low renter share of 20.5% suggests that there might be competition among landlords for tenants, but the median income of 46,500 supports the ability of residents to meet the FMR. This ZIP code offers a stable environment for rental properties, with the potential for steady cash flow and minimal vacancy rates. The Section 8 program, with its fixed FMR, provides a reliable source of tenants for landlords willing to participate. For those considering Section 8 properties in 22743, the verdict is positive, given the supportive economic conditions and moderate housing values.
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.