Section 8 Fair Market Rent (FMR) for ZIP 22834 - 2027

Investment Score for ZIP 22834

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,020
1 Bedroom	$1,020
2 Bedrooms	$1,240
3 Bedrooms	$1,690
4 Bedrooms	$2,040
5 Bedrooms	$2,366
6 Bedrooms	$2,650
7 Bedrooms	$2,862
8 Bedrooms	$3,005

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,690	$362,729	0.47%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the latest data from RenewalReply, the typical 1-bedroom rent in ZIP 22834 (Linville, VA) is $1,151/month as of 2026. Given that the Fair Market Rent (FMR) for ZIP 22834 is $1,310 for fiscal year 2024, there is a gap of $159 between the FMR and the market rent. This represents a 12.14% difference, indicating that the market rent is lower than the FMR. In this context, where 17.0% of residents are renters, and the median income is $99,926, landlords can benefit from the discrepancy between the FMR and the actual market rent. Voucher tenants under the Section 8 program will pay a portion of their income towards rent, while the government covers the rest up to the FMR. Therefore, landlords can secure a steady, government-backed income stream that is higher than the open-market rates. This makes it a yield play, as landlords can potentially earn more per unit than what the market would otherwise dictate.

The median home value in the area is $370,709, which is significantly higher than the typical home value. However, this does not directly impact the rental market dynamics. Landlords should consider the FMR and the local market trends when setting rents for properties participating in the Section 8 program.

• The typical 1-bedroom rent is $1,151/month.
• The FMR for 1-bedroom units is $1,310/month.
• This creates a $159 gap, or 12.14% difference, favoring the landlord if they accept Section 8 vouchers.

Given the data, accepting Section 8 voucher tenants can be a strategic move for landlords looking to maximize their yields in ZIP 22834.

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.