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 |
U.S. Census Bureau data (2024)
ZIP 23442, located in Accomack County, VA, serves as a cash-flow anchor within a Section 8 portfolio strategy. The primary reason for this classification is the significant spread between the Fair Market Rent (FMR) and the median home value in the area.
The FMR for the Accomack County, VA metro area in fiscal year 2026 is set at $1,040. This figure represents the maximum amount that a Section 8 tenant can pay towards their housing costs, including rent and utilities. Given that the market rent data is currently unavailable, we must rely on the FMR to guide our analysis.
The median home value in ZIP 23442 stands at $188,623. While this is a relatively low value compared to many other areas across the United States, it still provides a solid foundation for cash flow when paired with the FMR. Landlords can expect steady rental income from Section 8 tenants, which will cover the mortgage and operational costs of maintaining properties in this ZIP code.
Furthermore, the renter share in ZIP 23442 is 4.9%, indicating a modest demand for rental properties. However, the median income of $29,583 aligns well with the eligibility criteria for Section 8, ensuring a stable pool of potential tenants who can benefit from subsidized housing.
In summary, ZIP 23442 is best suited as a cash-flow anchor due to the predictable income generated by Section 8 tenants and the reasonable property values. This ZIP code offers landlords a reliable investment opportunity with minimal risk, allowing them to maintain consistent cash flow while contributing to affordable housing solutions in the community.
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.