Location: Shenandoah County, VA | Metro: Shenandoah County, VA
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 | $980 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $258,057 | 0.47% | F |
| 3BR | $1,510 | $326,906 | 0.46% | F |
| 4BR | $1,970 | $387,179 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 22842, located in Mount Jackson, VA, has a population of 5,580 residents. Within this community, 21.5% are renters, indicating that it is not heavily dominated by rental housing but still maintains a significant tenant base. The median household income stands at $60,134, which provides a context for understanding the financial capacity of potential tenants.
The average market rent in this area is $997, which equates to approximately 16.6% of the median household income. This percentage suggests that the typical rent is reasonably affordable for most households in the area, leaving a substantial portion of their income available for other expenses. However, comparing the market rent to the Fair Market Rent (FMR) of $1,120 for the fiscal year 2026, it appears that the actual rents are slightly below the FMR benchmark, particularly for metropolitan areas. This indicates that landlords might find it challenging to raise rents significantly above the current market rate without losing tenants.
Given the income levels and the relatively low market rent, landlords in ZIP 22842 can expect a tenant pool that includes individuals who are likely to be reliant on housing vouchers due to the disparity between their income and the cost of living. The demand for housing vouchers is expected to be moderate rather than high, considering the size of the renter population and the affordability of current rents relative to incomes.
To conclude, landlords in Mount Jackson, VA, should anticipate tenants who have a mix of financial situations, with some possibly needing assistance through housing vouchers. While the renter population is present, it is not overwhelming, and the overall economic conditions suggest a reasonable balance between affordability and the need for subsidized housing.
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.