Section 8 Fair Market Rent (FMR) for ZIP 22807 - 2027

Location: Harrisonburg, VA | Metro: Harrisonburg, VA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,200
1 Bedroom	$1,210
2 Bedrooms	$1,460
3 Bedrooms	$2,000
4 Bedrooms	$2,350
5 Bedrooms	$2,726
6 Bedrooms	$3,053
7 Bedrooms	$3,297
8 Bedrooms	$3,462

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,347

Median Household Income

$N/A

Housing Units

Renter Percentage

100.0%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 22807, located in Newport News, Virginia, offers a stable rental market primarily driven by renters. This coastal area is known for its military presence and access to naval bases, which contributes to a consistent demand for housing.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 22807 for fiscal year 2024 is set at $1340.
Renters make up 100.0% of the residential population, indicating a strong reliance on the rental market.
Due to the high percentage of renters, the median home value is not applicable (N/A).
The median household income is also not available (N/A), suggesting a diverse economic makeup of residents.
While the average days on the market (DOM) for rental listings is not specified, the high renter share implies that properties are likely to be occupied quickly once listed.
The lack of recent market rent data suggests that the FMR is a reliable benchmark for setting rental prices in this area.

The investor takeaway is that ZIP 22807 presents a solid opportunity for those looking to invest in a stable rental market. With the FMR serving as a guideline and a population entirely dependent on rentals, landlords can expect steady occupancy rates and a predictable cash flow. The absence of median home values and income data indicates a varied economic landscape, but the strong rental market compensates for these unknowns. For small-portfolio investors, focusing on affordable housing options that align with the FMR could prove beneficial.

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.