Location: Louisa County, VA | Metro: Richmond, VA HUD Metro FMR Area
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 | $1,300 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $289,194 | 0.52% | F |
| 3BR | $1,870 | $421,494 | 0.44% | F |
| 4BR | $2,300 | $651,584 | 0.35% | F |
| 5BR | $2,668 | $846,781 | 0.32% | F |
U.S. Census Bureau data (2024)
15.5% of Montpelier, VA's residents are renters, indicating a moderate demand for rental properties in ZIP 23192. The Fair Market Rent (FMR) for the area, set at $1210 for zip FY 2024, represents the upper limit for Section 8 rental assistance payments. This figure is critical for landlords considering participation in the program. With a median home value of $474,080, the real estate market in Montpelier is relatively stable, though specific details on market rents and days on market (DOM) are not available. The median income of $110,642 suggests that many households could afford market rates without assistance, but it also implies a significant portion may still rely on subsidies. Given the lack of data on the percentage of homes that have had their prices cut, it's difficult to assess the competitive nature of the rental market. However, the absence of such information might indicate a steady market where price adjustments are less common. For landlords looking to maximize their returns while ensuring compliance with HUD guidelines, the Section 8 program can be a reliable source of consistent rental income. Despite the limitations in available data, the combination of the FMR and the median income points towards a balanced opportunity for those willing to participate. Verdict: Section 8 is a viable option for landlords in Montpelier, VA.
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.