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 | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,400 | $319,906 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 23180 stands out due to its unique mix of low rental population and relatively high median income and home values. With only 479 residents and a mere 7.9% renting, this area has a predominantly owner-occupied housing stock. The median income of $73,542 places it above average compared to many other ZIP codes, while the median home value of $318,446 reflects a strong local real estate market.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,290, significantly higher than the current market rent of $697, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy suggests that landlords accepting Section 8 vouchers could potentially see an increase in rental income, aligning with the higher FMR standards rather than the lower market rates. However, it also implies that tenants might find the voucher amount insufficient to cover the full cost of renting in this ZIP code without some subsidy from the landlord.
Given these factors, the data signature for ZIP 23180 reads as stable. The high median income and home values indicate a consistent economic environment where property values are unlikely to fluctuate widely. Additionally, the low percentage of renters suggests a community that is less likely to be impacted by changes in rental markets. While the disparity between market rents and FMRs presents challenges for landlords, the overall stability of the area provides a solid foundation for long-term investment strategies.
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.