Section 8 Fair Market Rent (FMR) for ZIP 23328 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 23328, located in Virginia, is a region characterized by a mix of residential areas and small-scale commercial establishments. This area is particularly relevant for landlords and small-portfolio investors interested in the Section 8 housing market.

• The Fair Market Rent (FMR) for ZIP 23328 for fiscal year 2024 is set at $1620.
• The market rent for the area is currently N/A, indicating that there might be limited data available on private rental rates.
• The median home value in ZIP 23328 is also listed as N/A, suggesting that the area may lack comprehensive data on property values.
• The percentage of residents who are renters is N/A, which could mean that the exact figure is not publicly available or is not significant enough to report.
• The Days on Market (DOM), which indicates how long properties typically stay on the market before being rented, is N/A. This could imply a robust rental market where listings are quickly filled, or it might simply reflect incomplete data.
• The median household income for ZIP 23328 is N/A, highlighting a gap in economic data for the area.

In summary, while the Fair Market Rent for ZIP 23328 is established at $1620 for fiscal year 2024, other critical metrics such as market rent, median home value, and percentage of renters remain unspecified. The lack of Days on Market data suggests either a strong rental market or insufficient reporting. Given the limited availability of detailed economic indicators, potential investors should focus on the established FMR and conduct further localized research to understand the rental dynamics better. The absence of specific figures on private rents and home values can be seen as a challenge in assessing the overall market health but also as an opportunity for those willing to delve deeper into the local real estate landscape.

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.