Location: Accomack County, VA | Metro: Accomack County, VA
| 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 |
The ZIP code 23441 stands as a market in motion, driven by the current Fair Market Rent (FMR) set at $1,050 for the fiscal year 2026. This figure, established by HUD for the Section 8 program, reflects the rental market's baseline, indicating what is considered a fair rent for a standard unit in the area. The lack of available data on market rent suggests that the official FMR may serve as a significant benchmark for landlords and small-portfolio investors alike, guiding their pricing strategies.
With the median home value and days on market (DOM) unspecified, it becomes challenging to definitively state whether supply outpaces demand or vice versa. However, the absence of a reported price-cut share might imply that landlords are maintaining their rents without significant concessions, which could suggest a relatively stable or slightly bullish market where tenants are willing to pay asking prices. In such an environment, landlords can expect steady occupancy rates without having to frequently lower their rents to attract tenants.
The unknown percentage of the renter share in the housing market provides insight into the potential long-term pressures on housing. A high renter share typically signals greater long-term housing pressure, as it indicates a larger population reliant on rental properties rather than owning homes. This reliance can create sustained demand for rental units, making ZIP 23441 an attractive investment for those interested in the rental market. Conversely, a low renter share might point towards a market with more homeowners, potentially leading to less rental demand over time.
In summary, while specific metrics like market rent and median home values are missing, the established FMR of $1,050 serves as a critical indicator for the rental landscape in ZIP 23441. Landlords should consider this figure when setting rents, balancing between attracting tenants and maximizing returns. The unavailability of other key data points leaves room for further investigation but also hints at a market where demand is currently met, without necessitating frequent price adjustments.
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.