Location: Northampton County, VA | Metro: Northampton 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 | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $413,192 | 0.33% | F |
| 4BR | $1,650 | $677,679 | 0.24% | F |
U.S. Census Bureau data (2024)
The ZIP code 23310 presents a moderately renter-heavy environment, with 36.3% of its 5,031 residents being renters. This suggests a significant demand for rental properties, including those that accept Section 8 vouchers. The median household income in this area stands at $62,500, which provides a benchmark for understanding the financial capabilities of potential tenants.
The typical market rent in ZIP 23310 is $832, representing approximately 16.7% of the median household income when calculated annually. This percentage indicates that the average rent is relatively affordable for the majority of households in the area. However, it's important to note that the Fair Market Rent (FMR) for the metro area is set at $960 for FY 2026, which is higher than the current market rent. This discrepancy could suggest either a growing rental market or an adjustment in voucher amounts to meet the rising cost of living.
To put these numbers into perspective, let's consider how they impact the tenant profile. With the typical rent eating up about 16.7% of the median income, landlords can expect a mix of tenants who might be using Section 8 vouchers to supplement their rental payments. These tenants often have a portion of their rent subsidized, making the overall rental payment more manageable. The FMR figure of $960 also implies that there will be a need for landlords to potentially adjust their rents upwards to align with government standards, especially if they wish to attract voucher holders.
In conclusion, landlords in ZIP 23310 should anticipate a tenant pool that includes a substantial number of individuals relying on Section 8 vouchers. These tenants are likely to be financially stable but may require assistance to cover the full cost of housing. Given the current market conditions and the projected FMR, landlords should prepare for a gradual increase in rental rates to remain competitive and compliant with federal guidelines.
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.