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 | $1,560 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,700 |
| 5 Bedrooms | $3,132 |
| 6 Bedrooms | $3,508 |
| 7 Bedrooms | $3,789 |
| 8 Bedrooms | $3,978 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,800 | $291,722 | 0.62% | D |
| 3BR | $2,450 | $370,295 | 0.66% | D |
| 4BR | $2,700 | $473,618 | 0.57% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 22939, which encompasses Fishersville, VA, is fundamentally about the financial gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1690, while the Census American Community Survey (ACS) reports the average market rent at $1,572. This indicates that the FMR is $118 higher than the market rent, representing an increase of approximately 7.5%.
This positive gap makes Fishersville a compelling location for landlords and small-portfolio investors looking to capitalize on the yield potential of voucher tenants. With 31.7% of residents renting, there is a substantial demand for affordable housing. The median home value in Fishersville is $388,985, and the median income is $84,209, suggesting that many residents may find it challenging to afford market rents without assistance.
The higher FMR ensures that landlords can receive a stable, government-backed rental income that exceeds the typical market rate. This stability is particularly valuable given the economic conditions of the area, where the median income does not necessarily support the high cost of living. Voucher tenants provide a reliable source of income, as the payments are guaranteed and adjusted annually to reflect changes in the FMR.
However, landlords should be aware of the administrative costs associated with participating in the Section 8 program. These include background checks, regular inspections, and maintaining compliance with HUD standards. Despite these expenses, the net income from voucher tenants is likely to be higher than the prevailing market rents, making it a favorable investment strategy in Fishersville.
In conclusion, the $118 differential between the FMR and market rent in Fishersville, VA, creates an opportunity for landlords to earn above-average returns while providing affordable housing options to residents who might otherwise struggle to find suitable accommodation. This scenario aligns well with the goals of both investors seeking steady yields and policymakers aiming to improve housing affordability.
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.