Section 8 Fair Market Rent (FMR) for ZIP 23968 - 2027

Location: Mecklenburg County, VA | Metro: Mecklenburg County, VA

Investment Score for ZIP 23968

N/A

Monthly Rent (2BR)

$950

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	$730
1 Bedroom	$730
2 Bedrooms	$950
3 Bedrooms	$1,250
4 Bedrooms	$1,320
5 Bedrooms	$1,531
6 Bedrooms	$1,715
7 Bedrooms	$1,852
8 Bedrooms	$1,945

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,250	$207,255	0.6%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

671

Median Household Income

$43,571

Housing Units

409

Renter Percentage

27.2%

Occupancy Rate

82.6%

Renter Occupied

The ZIP code 23968, located in the heart of rural Virginia, offers a unique investment opportunity for landlords and small-portfolio investors looking to capitalize on the steady demand for affordable housing in a less densely populated area. This region is characterized by its blend of agricultural landscapes and small-town charm, making it an attractive destination for those seeking a quieter lifestyle.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $940, providing a benchmark for rental pricing.
Market rent data is currently unavailable, but given the FMR, it suggests that there is potential for competitive pricing strategies to attract tenants.
The median home value in ZIP 23968 stands at $184,103, indicating a relatively stable real estate market with moderate property values.
Renters make up 27.2% of the population, showing a significant portion of residents who prefer or require rental housing over homeownership.
Days on Market (DOM) data is not available, which could imply either a quick turnover in listings or a lack of recent sales activity.
The median household income is $43,571, suggesting that while the area may not be high-income, there is a solid base of renters capable of paying the established FMR.

Investors considering properties in ZIP 23968 should take note of the stable median home value and the defined renter share, which together indicate a reliable tenant pool. The FMR provides a clear guideline for setting competitive rents without needing market rent data. However, the absence of DOM data might require additional research to understand the local real estate dynamics fully. Given the median income, properties priced around the FMR will likely appeal to the majority of residents, positioning landlords well for steady occupancy rates and predictable cash flows.

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.