Location: Mecklenburg County, VA | Metro: Charlotte County, VA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $274,873 | 0.34% | F |
| 3BR | $1,250 | $343,524 | 0.36% | F |
| 4BR | $1,380 | $417,372 | 0.33% | F |
U.S. Census Bureau data (2024)
ZIP code 23927, located in Clarksville, VA, within the Mecklenburg County, VA metro area, presents a unique set of characteristics compared to the broader county ZIP codes. The Fair Market Rent (FMR) for 23927 is set at $910 for fiscal year 2026, which exceeds the current market rent of $766. This indicates that while landlords can potentially charge higher rents, the actual market conditions may be slightly less favorable, suggesting some room for price adjustments.
The median home value in 23927 stands at $305,657, which is notably lower than what might be expected in a premium sub-market. This could imply that the area is more affordable for homeowners and possibly for renters as well, given the relatively low market rent. However, the FMR being above the market rent suggests that there is government support for rental housing, making it attractive for those who qualify for Section 8 assistance.
The renter share in ZIP 23927 is 24.1%, which is higher than the typical percentage seen in many other ZIP codes across the county. This higher proportion of renters combined with the lower median home value compared to the metro average can be indicative of a Section 8 sweet spot. Landlords in this area can benefit from the FMR subsidy while renting out properties at rates that are still below the metro average, thereby attracting tenants who receive rental assistance.
To summarize, ZIP 23927 appears to be a value pocket within the Mecklenburg County, VA metro area. It offers lower home values and market rents, yet has a higher FMR and a significant renter share, making it an appealing location for landlords who want to participate in the Section 8 program. This combination of factors suggests a stable but not premium real estate market, where government subsidies play a key role in supporting the rental sector.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.