Location: Louisa County, VA | Metro: Richmond, VA HUD Metro FMR Area
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 | $1,120 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $262,612 | 0.53% | F |
| 3BR | $1,850 | $414,501 | 0.45% | F |
| 4BR | $2,200 | $612,039 | 0.36% | F |
U.S. Census Bureau data (2024)
The median household income in ZIP 23015, Beaverdam, VA, stands at $113,771. This figure places residents in a relatively high-income bracket, which could suggest strong purchasing power for housing. However, the market rate rental price is listed as N/A, indicating incomplete data and making direct comparisons challenging.
When looking at the Section 8 voucher payment standard for the area, which is set at $1530 for fiscal year 2024, we can infer some aspects of affordability. Given the median income, households would likely have no difficulty covering a $1530 monthly rent through a voucher program. The income level suggests that even if the market rate were higher, most residents could still afford to pay out-of-pocket, though the exact amount remains unknown due to the missing market rate data.
With only 12.3% of the 4,601 population being renters, the competition among landlords in Beaverdam is relatively low. This means that landlords who offer competitive rates and quality accommodations can attract tenants without much struggle. The scarcity of rental properties and the high median income indicate that landlords might have an advantage when it comes to setting reasonable rents above the voucher payment standard.
The takeaway for landlords considering their strategy in ZIP 23015 is clear: given the high median income and low percentage of renters, there is potential to secure tenants willing to pay above the voucher rate. Landlords should weigh the benefits of accepting vouchers against the possibility of renting to cash-paying tenants who can afford more. The latter could provide a more stable and potentially higher revenue stream, but the decision ultimately depends on the landlord’s goals and the local rental dynamics.
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.