Location: Middlesex County, VA | Metro: Middlesex County, VA
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 | $1,170 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,760 | $398,062 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 23092 encompasses a neighborhood characterized by a relatively small population of 765 residents, with only 14.5% of them being renters. This indicates a primarily owner-occupied area where the majority of individuals have opted for homeownership. The median household income stands at $98,625, reflecting a community that is financially stable and likely has a strong purchasing power. The median home value in this area is $390,496, which suggests that the homes are of good quality and represent a significant investment for homeowners.
From an economic standpoint, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,430. However, specific market rent data for ZIP 23092 is not available, making it difficult to directly compare the FMR with local rental prices. Despite this lack of precise market data, the high median income and median home value imply that the rental market could be robust and potentially offer competitive returns for investors.
Given these conditions, ZIP 23092 might suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the presence of Section 8 vouchers can provide a steady stream of income with minimal management overhead. The financial stability of the residents supports the likelihood that tenants will be able to meet their rental obligations. On the other hand, hands-on value-add buyers could find opportunities to renovate properties and command higher rents, especially if they target the upper end of the rental market where the demand seems to be supported by the local income levels.
In summary, ZIP 23092 offers a niche market for real estate investment, particularly in the context of Section 8 vouchers. The limited number of renters and the high median income suggest a favorable environment for both passive and active investors. Landlords and small-portfolio investors should consider the potential for steady returns and the possibility of leveraging the local economy to enhance property values.
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.