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 | $1,170 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
The market analysis for Section 8 investors in ZIP code 23155, located in Virginia Beach-Norfolk-Newport News County, Virginia, reveals several key points. The Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for this area in fiscal year 2024 is $1310. This figure represents the maximum amount that voucher holders can pay towards rent, which is crucial for determining cash flow potential.
Unfortunately, the specific market rent data for ZIP 23155 is currently unavailable. However, based on the HUD FMR alone, it's clear that voucher tenants would typically cash flow at FMR rates without requiring significant premium units. This means that landlords can expect a stable income stream from Section 8 tenants without needing to overprice their properties to maintain profitability.
The median home value for this area is also not available, making it challenging to derive an accurate rent-to-price ratio. However, even without this metric, the strong cash flow potential remains a significant advantage for investors looking to enter the rental market in ZIP 23155.
Additional data such as the days on market (DOM) and the percentage of homes that experience price cuts are also unavailable. Despite these gaps, the focus should remain on the stability provided by the HUD FMR and the predictable nature of Section 8 tenant payments.
In summary, the strongest angle for investors in ZIP 23155 is the stability offered by Section 8 tenancy. With guaranteed rental income aligned closely with the HUD FMR, landlords can secure a steady and reliable cash flow, making this an attractive option for those prioritizing consistent returns over speculative gains.
Data Sources: FMR data from HUD (2027).
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.