Location: Charlottesville, VA | Metro: Charlottesville, 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 | $1,280 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,000 | $419,209 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 22935 presents several challenges for potential Section 8 landlords. Tenant turnover can be a significant issue, especially when comparing the market rent to the Fair Market Rent (FMR) set at $1380 for FY 2024. If the local market rent is higher, it may lead to tenants seeking better deals, increasing turnover rates. Vacancy exposure is another concern, as the days on market (DOM) data is currently unavailable. This lack of information makes it difficult to predict how long a property might remain vacant between tenants. Additionally, there is a risk of deferred maintenance due to the relatively lower median income of $118,073 compared to the typical home value of $411,649. Landlords must be prepared to invest in property upkeep without relying on substantial rent increases to cover these costs.
Despite these risks, the area has a high concentration of renters, with 6.1% of the population being renters. High renter density typically correlates with a higher demand for housing vouchers, which can stabilize occupancy rates. The presence of a significant number of voucher holders can also mitigate some of the financial risks associated with tenant turnover and vacancy exposure, as voucher holders tend to have more stable rental payments.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 22935 is moderate. While there are notable challenges such as potential tenant turnover and the need for ongoing maintenance investments, the high renter density offers a measure of stability and demand for subsidized housing options.
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.