Section 8 Fair Market Rent (FMR) for ZIP 23260 - 2027

FY 2027 Fair Market Rent Rates

To classify ZIP 23260 in Unknown, VA, we must analyze the available data on yield and stability. The primary figure for yield analysis comes from the Fair Market Rent (FMR), which is set at $1460 for fiscal year 2024. This figure represents the average rent that a landlord can expect to receive for a unit in this ZIP code under the Section 8 program. However, the lack of market rent and home value data means we cannot compare the FMR against these benchmarks directly.

Moving to stability, the key indicators such as the percentage of renters, days on market (DOM), and median household income are unfortunately not provided. Without these specific figures, it's challenging to assess the stability of rental demand and the financial health of potential tenants in ZIP 23260.

Given the limited data, ZIP 23260 appears to be a moderate yield market due to the defined FMR but lacks the necessary information to determine its stability fully. The known FMR suggests that landlords can expect a predictable cash flow from Section 8 tenants, making it a suitable option for those seeking steady income. However, the absence of data on market rents and home values means we cannot conclude whether there is significant upside potential through market-rate rentals or property appreciation.

In summary, ZIP 23260 is best classified as a steady-cashflow zone based on the available data. Landlords can rely on the $1460 FMR for consistent income, though they should seek additional local insights to understand the broader market dynamics and tenant stability before making investment decisions.

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.