Section 8 Fair Market Rent (FMR) for ZIP 23436 - 2027

Location: Virginia Beach-Norfolk-Newport News, VA | Metro: Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area

Investment Score for ZIP 23436

N/A

Monthly Rent (2BR)

$2,020

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,780
1 Bedroom	$1,800
2 Bedrooms	$2,020
3 Bedrooms	$2,790
4 Bedrooms	$3,290
5 Bedrooms	$3,816
6 Bedrooms	$4,274
7 Bedrooms	$4,616
8 Bedrooms	$4,847

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$2,790	$453,510	0.62%	D
4BR	$3,290	$649,094	0.51%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

882

Median Household Income

$202,708

Housing Units

417

Renter Percentage

N/A

Occupancy Rate

89.9%

Renter Occupied

The ZIP code 23436, located in Williamsburg, Virginia, is a prime location for real estate investment, particularly for those interested in Section 8 housing opportunities. The area is characterized by its blend of historical charm and modern amenities, making it attractive to both families and individuals seeking affordable housing solutions.

The Fair Market Rent (FMR) for ZIP 23436 in fiscal year 2024 is set at $1400, which provides a benchmark for rental prices that align with the federal guidelines for affordable housing.
Despite the lack of specific data on market rents, the low 0.0% renter share indicates that homeownership is prevalent, suggesting that rental demand might be limited but could still be lucrative for Section 8 properties.
The median home value in the area stands at $511,934, reflecting a relatively stable and valuable real estate market that supports long-term investments.
The median household income in ZIP 23436 is $202,708, which is significantly higher than the national average, potentially indicating a robust local economy that can support higher rental rates and property values.
The absence of data regarding days on market (DOM) suggests that either the market is highly efficient or there is insufficient activity to establish trends, though the high median income implies strong financial health among residents.
The combination of these factors points towards a niche market where Section 8 properties can fill a specific need while benefiting from a generally healthy economic environment.

In summary, ZIP 23436 offers a unique opportunity for landlords and small-portfolio investors looking to capitalize on Section 8 housing without the typical challenges of high rental competition. With a median home value of $511,934 and a median income of $202,708, the area demonstrates economic stability that can bolster property values and rental incomes. Although the renter share is minimal, the federal Fair Market Rent of $1400 provides a solid foundation for pricing Section 8 units competitively. This analysis underscores the potential for steady returns and long-term appreciation in this historically rich yet economically sound area.

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.