Section 8 Fair Market Rent (FMR) for ZIP 23327 - 2027

FY 2027 Fair Market Rent Rates

1620 is the Fair Market Rent (FMR) for ZIP 23327 in fiscal year 2024, setting a benchmark for rental properties in this area. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program. Despite the N/A for market rent, median home value, and other key metrics, the 1620 FMR provides a clear guideline for pricing units to ensure they remain within the eligible range for the program. The lack of data on the median income and renter share suggests a limited population or reporting in ZIP 23327, but it does not diminish the importance of adhering to the FMR. With N/A days on the market (DOM), it's evident that there is either insufficient data or a low turnover rate in the area, which could indicate stability or a less active real estate market. Similarly, the N/A percentage for price-cut share implies that there is little need for landlords to reduce their asking prices to attract tenants, possibly due to the scarcity of available data or a robust demand for housing. In conclusion, for ZIP 23327, the primary focus should be on aligning rental prices with the 1620 FMR to cater to potential Section 8 participants. Given the absence of comprehensive market data, landlords must rely on the FMR as their principal reference point. The verdict on Section 8 in ZIP 23327 is positive, provided that rents are set at or below the 1620 FMR.

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.