Location: Virginia Beach-Norfolk-Newport News, VA | Metro: Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 23066 in fiscal year 2024 is set at $1200. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, not the actual rent paid by individual tenants. The FMR serves as a benchmark to ensure that rents are affordable and competitive with market rates.
Despite the lack of specific local rent data, we can infer that the 47.4% share of renters in the area indicates a significant demand for rental properties. This high percentage suggests that there are many individuals and families who rely on renting as their primary housing solution, making it a viable option for landlords looking to enter the Section 8 market.
When considering the acquisition cost of a property in this ZIP code, the absence of detailed local data makes it challenging to provide an exact figure. However, the FMR of $1200 gives you a solid reference point for estimating potential rental income. It's important to factor in other costs such as maintenance, utilities, and insurance when determining if a property is financially feasible under the Section 8 program.
A crucial step before committing to a Section 8 rental property is verifying that the property meets the Housing Quality Standards (HQS). These standards ensure that the home is safe, decent, and sanitary for tenants. A thorough inspection and any necessary repairs must be completed before the property can be approved for the program.
In summary, the FMR of $1200 in ZIP 23066 provides a clear guideline for rental pricing under Section 8. With a substantial portion of the population租房，这表明该地区对出租房屋的需求很大。在考虑房产购置成本时，尽管缺乏具体的本地数据，但$1200的公平市场租金为估算潜在租金收入提供了一个坚实的参考点。在确定房产是否符合Section 8项目的财务可行性时，还需要考虑到维修、公用设施和保险等其他费用。
在决定投入Section 8项目之前，需要确认的一个重要事项是房产是否满足住房质量标准（HQS）。这些标准确保房屋对租户来说是安全、体面且卫生的。必须完成全面检查并进行任何必要的维修，才能使房产获得该项目的批准。
总之，ZIP代码23066的公平市场租金为$1200，为Section 8项目下的租金定价提供了明确的指导。该地区有相当一部分人口依赖租房，这表明对出租房屋的需求很高。在投入前，务必确认房产满足HQS标准。
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.