Location: Virginia Beach-Norfolk-Newport News, VA | Metro: Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,680 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,090 |
| 5 Bedrooms | $3,584 |
| 6 Bedrooms | $4,014 |
| 7 Bedrooms | $4,335 |
| 8 Bedrooms | $4,552 |
The market analysis for Section 8 investors in ZIP code 23467 reveals a competitive landscape where understanding the Federal Rent Guidelines is crucial. The HUD Fair Market Rent (FMR) for this area is set at $1700 for fiscal year 2024. However, the lack of specific market rent data makes it challenging to determine the exact cashflow potential. Based on the available HUD FMR, voucher tenants in 23467 will likely cashflow marginally, assuming the market rent is slightly above the FMR. This suggests that landlords should focus on maintaining operational efficiency to maximize profitability.
To further analyze the investment potential, the median home value in the area is also not specified, which complicates deriving an accurate rent-to-price ratio. Without this information, it's difficult to assess the broader rent-versus-buy dynamics. However, given the typical characteristics of a coastal metropolitan area like Virginia Beach-Norfolk-Newport News, the demand for rental properties is generally strong, supporting a stable tenant base.
The absence of specific data on the number of days on market (DOM) and the percentage of price cuts indicates that the rental market in 23467 is relatively steady. This stability is a positive sign for investors looking for consistent income streams. While the exact numbers are missing, the overall trend in the region points towards low vacancy rates and high demand, especially for affordable housing options.
In conclusion, the strongest investor angle in ZIP code 23467 is stability. With the HUD FMR at $1700 and a likely marginal cashflow scenario, investors can expect steady returns and a reliable tenant pool, making it an attractive option for those seeking long-term, low-risk investments in the rental market.
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.