Location: Staunton-Stuarts Draft, VA | Metro: Harrisonburg, VA MSA
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 | $1,020 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,690 | $407,913 | 0.41% | F |
| 4BR | $1,980 | $581,330 | 0.34% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 22841, part of the Staunton-Stuarts Draft area within the VA MSA metro, is favorable but requires careful consideration. The Federal Market Rent (FMR) for the fiscal year 2024 is set at $1150, while the market rent, according to Census ACS data, is slightly higher at $1,164. This indicates that landlords can expect a slight premium over the subsidized rate, which could cover minor expenses or adjustments.
Regarding acquisition affordability, the median home value in ZIP 22841 is $423,047. With no available data on days on market (DOM) or the percentage of homes that required price cuts, it's difficult to assess the exact market conditions for property purchases. However, the median home value suggests that buying properties here will require a significant investment, which might be prohibitive for small-portfolio investors looking for lower-cost entry points.
Tenant demand in ZIP 22841 is relatively low. The area has a population of 3,090, with only 13.6% being renters. This means there are approximately 420 potential rental households. Given the limited number of renters, landlords should focus on offering competitive rental terms and maintaining high-quality properties to attract and retain tenants.
Verdict: While the rent math in ZIP 22841 works with a slight market advantage, the high median home value poses challenges for acquisition, especially for smaller investors. Tenant demand is modest due to the low renter share, necessitating a strategic approach to property management and marketing. Landlords must balance these factors to ensure profitability and occupancy rates.
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.