Location: King and Queen County, VA | Metro: King and Queen County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The classification of ZIP code 23161 hinges significantly on the available data, particularly the Family Median Rent (FMR) of $1090 for fiscal year 2024. Given that market rent and home value data are not available, we must rely heavily on the FMR and other indicators to assess the yield and stability.
Yield: With an FMR of $1090, the potential rental income for Section 8 properties in this area is clear. However, without comparative market rent data, it's challenging to determine if this represents a high-yield scenario. Typically, a high-yield market would have a higher ratio of FMR to market rents, indicating significant subsidies. The absence of market rent figures prevents a direct comparison, but the FMR alone suggests a stable, government-backed income stream.
Stability: Stability in the context of rental markets can be gauged by the percentage of renters, days on market (DOM), and median income. In ZIP 23161, 20.6% of residents are renters, which is a relatively low figure. This suggests a less volatile rental market since a smaller portion of the population relies solely on renting. However, the lack of DOM and median income data introduces uncertainty. A lower DOM typically indicates a stable demand for rentals, while median income can provide insight into the financial health of the tenant pool.
Based on the provided data, ZIP 23161 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The guaranteed income from the FMR at $1090 offers predictable returns, especially in a scenario where the percentage of renters is modest. This combination supports the idea of long-term investment stability over short-term, high-risk, high-reward strategies.
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.