Section 8 Fair Market Rent (FMR) for ZIP 23414 - 2027

Location: Accomack County, VA | Metro: Accomack County, VA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$880
2 Bedrooms	$1,110
3 Bedrooms	$1,370
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

ZIP code 23414, located within Accomack County, VA, exhibits characteristics that suggest it could be considered a value pocket within its broader metropolitan context. The Fair Market Rent (FMR) for ZIP 23414 is set at $1,050 for fiscal year 2026. This figure is crucial for landlords and small-portfolio investors interested in properties that cater to tenants eligible for Section 8 housing assistance.

The lack of specific data on market rent and home values for ZIP 23414 makes direct comparisons challenging. However, the 0.0% renter share indicates that very few residents in this area rent their homes, which is an unusual characteristic compared to typical ZIP codes within Accomack County, VA. Generally, higher renter shares can signal a more attractive market for rental properties, especially those participating in government-assisted housing programs such as Section 8.

Despite the absence of market rent and home value data, the low renter share combined with the established FMR suggests that 23414 may not be a traditional Section 8 sweet spot where both high renter share and below-metro average home values are present. Instead, the area likely has a strong presence of owner-occupied homes, possibly due to the rural nature of Accomack County, which often sees higher rates of homeownership.

To further clarify the investment potential of ZIP 23414, it would be beneficial to consider the following:

Economic Factors: Explore local employment trends, industry presence, and economic stability. These factors can influence the demand for rental properties and the attractiveness of the area to potential tenants.
Demographic Trends: Investigate demographic shifts, such as population growth or decline, and age distribution. Areas with growing populations or a higher percentage of younger residents might see an increase in rental demand.
Government Assistance Programs: Review the availability and success rates of Section 8 vouchers in the area. Even with a low renter share, the presence of effective assistance programs can still make the ZIP code appealing to landlords willing to participate.

While ZIP 23414 appears to be less focused on rentals compared to other areas within Accomack County, VA, its FMR of $1,050 offers a benchmark for pricing units that aim to attract Section 8 participants. Landlords should carefully assess the broader economic and social conditions to determine if this ZIP code represents a valuable investment opportunity.

Data Sources: FMR data from HUD (2027). 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.