Location: Shenandoah County, VA | Metro: Shenandoah County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The ZIP code 22845 stands out due to its unique demographic characteristics. With only 48 residents, it has an extremely low population density. Notably, there is a complete absence of rental properties, indicated by the 0.0% renting rate. This suggests that the area is primarily composed of owner-occupied homes, though specific median home values are not available. The lack of median income data further highlights the limited scope of economic information available for this ZIP.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,090. However, without market rent data for ZIP 22845, it's challenging to compare the FMR to local conditions. Landlords should be aware that the voucher system may not be as prevalent in such a sparsely populated area, where the demand for subsidized housing is likely minimal.
Given the data signature, ZIP 22845 appears to be stable. The absence of renters and the unavailability of market rent data suggest that there is little fluctuation in the housing market. For small-portfolio investors and landlords, this stability can be seen as a positive attribute, indicating less risk and potentially fewer challenges in managing properties. However, the limited number of residents also means that the potential tenant pool is very small, which could affect the overall investment strategy and property management approach.
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.