Location: Accomack County, VA | Metro: Accomack 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 | $880 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $326,843 | 0.38% | F |
| 3BR | $1,540 | $455,312 | 0.34% | F |
U.S. Census Bureau data (2024)
In Chincoteague, VA (ZIP 23336), the real estate market signals strong pricing power for the upcoming 12-24 months. The median home value stands at $365,199, indicating a robust local economy that supports higher property values. With only 0.1% of listings being reduced, it's clear that sellers have little incentive to lower their asking prices, suggesting a seller's market where demand outstrips supply. This trend is further supported by the fact that the median days on market (DOM) is not applicable (N/A), which could mean that homes are selling very quickly, often before reaching a typical DOM metric.
The rental market also provides insights into the investment potential of the area. According to the Fair Market Rent (FMR) for the metro area as of fiscal year 2026, the average rent is projected to be $1,230, compared to the current market rent of $1,081 based on Census ACS data. This gap suggests that rents are likely to rise, aligning with the expected increase in property values. Landlords and small-portfolio investors can expect to see an upward trajectory in rental income, making properties in Chincoteague attractive for both short-term and long-term investments.
For long-hold investors, the setup implies a realistic appreciation thesis. The combination of strong seller's market conditions, quick sales, and rising rents points towards sustained growth in property values. However, the appreciation rate will depend on broader economic factors and local developments. Investors should focus on properties that offer a good balance between current rental yields and potential appreciation, given the strong fundamentals of the Chincoteague market.
To summarize, the current data paints a picture of a market where landlords and small-portfolio investors can leverage strong pricing power and anticipate rising rents and property values. This environment is conducive to profitable real estate investments, particularly for those looking to hold properties for extended periods.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.