Section 8 Fair Market Rent (FMR) for ZIP 23079 - 2027

Location: Middlesex County, VA | Metro: Middlesex County, VA

Investment Score for ZIP 23079

N/A

Monthly Rent (2BR)

$1,260

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,040
1 Bedroom	$1,040
2 Bedrooms	$1,260
3 Bedrooms	$1,500
4 Bedrooms	$1,950
5 Bedrooms	$2,262
6 Bedrooms	$2,533
7 Bedrooms	$2,736
8 Bedrooms	$2,873

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,500	$404,377	0.37%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

400

Median Household Income

$63,750

Housing Units

231

Renter Percentage

13.7%

Occupancy Rate

69.7%

Renter Occupied

The rental market in ZIP 23079, specifically in Jamaica, VA, reveals a significant disparity between the Fair Market Rent (FMR) and the actual market rents. The FMR for FY 2026 is set at $1,290, while the recent market rent average, according to Zillow, is approximately $1,998. This indicates that the market rent is $708 higher than the FMR, representing a 55% premium.

In the context of Jamaica, VA, where only 13.7% of residents are renters, and the median home value stands at $411,441 with a median income of $63,750, the implications of this gap are substantial. Landlords and small-portfolio investors must carefully consider these factors when deciding whether to participate in the Section 8 program.

Given that the FMR is significantly lower than the market rent, accepting Section 8 vouchers can be seen as a yield play. However, it also means that landlords will be renting their properties below the market rate, which could affect their cash flow and profitability. The difference of $708 per unit translates into a considerable financial impact over time, especially when considering the broader economic context of the area.

To summarize:

$1,290 FMR vs. $1,998 market rent: A $708 difference, or 55% below market rates.
13.7% renters: A relatively low percentage of the population relies on rentals, suggesting limited demand.
$411,441 median home value: High compared to typical rental values, indicating a strong homeownership trend.
$63,750 median income: This figure supports the idea that many residents can afford higher rents, further emphasizing the gap between FMR and market rates.

Landlords must weigh the benefits of guaranteed, government-backed rent against the lower yields when considering participation in the Section 8 program.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.