Location: Staunton-Stuarts Draft, VA | Metro: Staunton-Stuarts Draft, 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 | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,570 | $360,056 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 22843 stands out due to its unique mix of demographics and housing economics. With a population of 2,697 residents, it has a relatively low rental rate at 18.1%, indicating that the majority of households prefer homeownership. The median income in this area is strong at $89,141, supporting a high median home value of $356,312. This suggests that the ZIP code is well-off and has a stable economic base.
Turning to the specifics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 22843 in fiscal year 2024 is set at $1,080. This figure is notably higher than the market rent average of $830, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords can expect to receive a higher rental income through Section 8 vouchers compared to the local market rates, making it an attractive option for those willing to participate in the program.
Given the data signature of ZIP 22843, it reads as "stable." The high median home value and strong median income indicate a community that is financially secure. Additionally, the fact that the majority of residents are homeowners rather than renters suggests a preference for long-term stability and investment in property. For landlords and small-portfolio investors, this ZIP code presents a reliable environment where Section 8 vouchers can be used effectively to secure tenants who can afford the higher FMR rates without the risk of frequent changes in the local economic landscape.
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.