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 | $1,090 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,640 | $363,733 | 0.45% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 23176 are governed by the SAFMR (Small Area Fair Market Rent) which is set at $1,370 for a two-bedroom apartment for the fiscal year 2026. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent of a two-bedroom unit in this specific ZIP code.
A landlord participating in the Section 8 program receives payments based on the voucher holder's contribution and any applicable utility allowances. The tenant's portion of the rent is typically 30% of their adjusted income, while the remaining balance is covered by the voucher up to the SAFMR limit. Utility allowances vary but are generally fixed amounts designed to cover electricity, gas, water, and sewer costs. These allowances can range from $200 to $300 per month depending on the size of the unit and the specific needs of the household.
Let’s break down an example for a two-bedroom unit. If the total rent is $1,370, and the tenant's portion is 30% of their adjusted income, say $411 (this would be for an adjusted income of $1,370), then the voucher program would cover the difference between the tenant's payment and the SAFMR. In this case, the voucher would pay $959 ($1,370 - $411).
Note that if the actual market rent for a two-bedroom unit in ZIP 23176 exceeds the SAFMR, the landlord will not receive additional funds from the voucher program. Instead, the landlord must rely on the tenant to pay the excess amount, which can be risky given the tenant's limited financial resources.
To illustrate the reimbursement gap or surplus, consider the following scenarios:
If the market rent is lower than the SAFMR, the landlord might receive slightly more than the local market rent, leading to a surplus. For instance, if the market rent is $1,200, the landlord would receive the full $1,200, with the voucher covering $789 ($1,200 - $411).
If the market rent is higher than the SAFMR, the landlord faces a reimbursement gap. Assuming the market rent is $1,500, the landlord would only receive $1,370 from the voucher program, leaving a $130 shortfall that the tenant must cover. However, since the tenant's portion is capped at 30% of their income, they may struggle to meet this higher rent, risking non-payment.
In ZIP 23176, the lack of specific market rent data makes it challenging to determine the exact reimbursement gap or surplus. However, based on the SAFMR of $1,370, landlords should ensure their rents align closely with this figure to avoid significant gaps and potential tenant payment issues.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.